Norges Bank Acquires Shares of 156,274 Marcus & Millichap, Inc. (NYSE:MMI)

Norges Bank acquired a new stake in Marcus & Millichap, Inc. (NYSE:MMIFree Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 156,274 shares of the real estate investment trust’s stock, valued at approximately $6,826,000. Norges Bank owned approximately 0.41% of Marcus & Millichap at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MMI. Jennison Associates LLC raised its holdings in shares of Marcus & Millichap by 109.1% during the 4th quarter. Jennison Associates LLC now owns 466,327 shares of the real estate investment trust’s stock worth $20,369,000 after buying an additional 243,281 shares in the last quarter. Reinhart Partners LLC. raised its holdings in shares of Marcus & Millichap by 10.1% during the 4th quarter. Reinhart Partners LLC. now owns 1,457,609 shares of the real estate investment trust’s stock worth $63,668,000 after buying an additional 133,308 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Marcus & Millichap by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 321,202 shares of the real estate investment trust’s stock worth $9,424,000 after buying an additional 18,706 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Marcus & Millichap by 112.6% during the 4th quarter. Signaturefd LLC now owns 623 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 330 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Marcus & Millichap by 5.4% during the 3rd quarter. Wellington Management Group LLP now owns 400,342 shares of the real estate investment trust’s stock worth $11,746,000 after buying an additional 20,420 shares in the last quarter. 62.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Gregory A. Laberge sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $32.68, for a total transaction of $32,680.00. Following the sale, the insider now owns 6,050 shares in the company, valued at approximately $197,714. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Marcus & Millichap news, COO John David Parker sold 9,716 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $32.83, for a total value of $318,976.28. Following the sale, the chief operating officer now owns 12,376 shares in the company, valued at approximately $406,304.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gregory A. Laberge sold 1,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $32.68, for a total value of $32,680.00. Following the completion of the sale, the insider now owns 6,050 shares in the company, valued at approximately $197,714. The disclosure for this sale can be found here. Insiders have sold 22,051 shares of company stock worth $732,953 in the last 90 days. Insiders own 39.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Marcus & Millichap from a “sell” rating to a “hold” rating in a report on Monday, May 13th.

View Our Latest Research Report on Marcus & Millichap

Marcus & Millichap Stock Down 1.2 %

Shares of MMI stock opened at $30.98 on Friday. The firm has a market capitalization of $1.20 billion, a P/E ratio of -30.98 and a beta of 1.10. Marcus & Millichap, Inc. has a twelve month low of $26.81 and a twelve month high of $44.24. The stock’s fifty day simple moving average is $32.81 and its 200 day simple moving average is $35.63.

Marcus & Millichap (NYSE:MMIGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported ($0.26) earnings per share for the quarter. The firm had revenue of $129.10 million for the quarter. Marcus & Millichap had a negative return on equity of 5.91% and a negative net margin of 6.16%.

Marcus & Millichap Profile

(Free Report)

Marcus & Millichap, Inc, an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.

See Also

Institutional Ownership by Quarter for Marcus & Millichap (NYSE:MMI)

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