Oppenheimer Asset Management Inc. Has $343,000 Position in Marcus & Millichap, Inc. (NYSE:MMI)

Oppenheimer Asset Management Inc. raised its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 6.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,651 shares of the real estate investment trust’s stock after buying an additional 530 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Marcus & Millichap were worth $343,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC acquired a new stake in Marcus & Millichap during the first quarter worth approximately $85,000. LRI Investments LLC acquired a new stake in shares of Marcus & Millichap during the 1st quarter worth approximately $143,000. Heritage Family Offices LLP bought a new stake in shares of Marcus & Millichap in the 2nd quarter valued at $207,000. Hsbc Holdings PLC acquired a new position in shares of Marcus & Millichap during the 2nd quarter valued at $212,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Marcus & Millichap by 12.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,795 shares of the real estate investment trust’s stock valued at $233,000 after acquiring an additional 767 shares during the period. 62.78% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Hessam Nadji sold 659 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $40.33, for a total value of $26,577.47. Following the transaction, the chief executive officer now owns 209,123 shares in the company, valued at $8,433,930.59. This trade represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Norma J. Lawrence sold 1,123 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $40.00, for a total value of $44,920.00. Following the sale, the director now owns 24,971 shares of the company’s stock, valued at $998,840. This trade represents a 4.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,023 shares of company stock worth $603,521 over the last three months. 39.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MMI has been the topic of a number of research analyst reports. StockNews.com raised shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Wells Fargo & Company raised their price objective on Marcus & Millichap from $20.00 to $30.00 and gave the company an “underweight” rating in a research note on Friday, September 6th.

Marcus & Millichap Trading Down 1.3 %

Shares of MMI stock opened at $40.13 on Thursday. Marcus & Millichap, Inc. has a 12 month low of $29.93 and a 12 month high of $44.24. The firm has a market capitalization of $1.56 billion, a PE ratio of -49.54 and a beta of 1.14. The firm has a fifty day simple moving average of $38.87 and a two-hundred day simple moving average of $36.40.

About Marcus & Millichap

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.