Louisiana State Employees Retirement System Lowers Stake in Marcus & Millichap, Inc. (NYSE:MMI)

Louisiana State Employees Retirement System reduced its holdings in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,600 shares of the real estate investment trust’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Marcus & Millichap were worth $460,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MMI. Allspring Global Investments Holdings LLC bought a new stake in Marcus & Millichap during the 1st quarter valued at about $85,000. EntryPoint Capital LLC bought a new stake in Marcus & Millichap during the 1st quarter valued at about $85,000. LRI Investments LLC bought a new stake in Marcus & Millichap during the 1st quarter valued at about $143,000. Heritage Family Offices LLP bought a new stake in Marcus & Millichap during the 2nd quarter valued at about $207,000. Finally, Hsbc Holdings PLC bought a new stake in Marcus & Millichap during the 2nd quarter valued at about $212,000. 62.78% of the stock is owned by hedge funds and other institutional investors.

Marcus & Millichap Stock Up 4.4 %

Shares of MMI stock opened at $39.61 on Wednesday. The company has a 50 day moving average price of $38.33 and a 200-day moving average price of $35.70. Marcus & Millichap, Inc. has a 52 week low of $29.30 and a 52 week high of $44.24. The firm has a market capitalization of $1.53 billion, a PE ratio of -43.53 and a beta of 1.14.

Marcus & Millichap (NYSE:MMI) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01. The company had revenue of $158.37 million during the quarter. Marcus & Millichap had a negative net margin of 5.68% and a negative return on equity of 5.50%.

Insider Activity at Marcus & Millichap

In related news, CEO Hessam Nadji sold 13,241 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $40.18, for a total transaction of $532,023.38. Following the completion of the sale, the chief executive officer now directly owns 209,782 shares in the company, valued at approximately $8,429,040.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Marcus & Millichap news, Director Norma J. Lawrence sold 1,123 shares of Marcus & Millichap stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $40.00, for a total transaction of $44,920.00. Following the transaction, the director now owns 24,971 shares of the company’s stock, valued at $998,840. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hessam Nadji sold 13,241 shares of Marcus & Millichap stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $40.18, for a total transaction of $532,023.38. Following the transaction, the chief executive officer now directly owns 209,782 shares in the company, valued at $8,429,040.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,023 shares of company stock worth $603,521. 39.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MMI shares. StockNews.com upgraded shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Wells Fargo & Company lifted their price target on shares of Marcus & Millichap from $20.00 to $30.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th.

Marcus & Millichap Company Profile

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.