Principal Financial Group Inc. Lowers Holdings in Marcus & Millichap, Inc. (NYSE:MMI)

Principal Financial Group Inc. decreased its holdings in Marcus & Millichap, Inc. (NYSE:MMI) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 113,132 shares of the real estate investment trust’s stock after selling 5,061 shares during the quarter. Principal Financial Group Inc. owned 0.29% of Marcus & Millichap worth $4,483,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. US Bancorp DE lifted its stake in Marcus & Millichap by 16.4% in the first quarter. US Bancorp DE now owns 11,817 shares of the real estate investment trust’s stock worth $404,000 after acquiring an additional 1,661 shares during the last quarter. UniSuper Management Pty Ltd purchased a new position in Marcus & Millichap in the first quarter worth approximately $352,000. CANADA LIFE ASSURANCE Co lifted its stake in Marcus & Millichap by 7.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 32,238 shares of the real estate investment trust’s stock worth $1,100,000 after acquiring an additional 2,241 shares during the last quarter. Pitcairn Co. lifted its stake in Marcus & Millichap by 4.5% in the first quarter. Pitcairn Co. now owns 13,005 shares of the real estate investment trust’s stock worth $444,000 after acquiring an additional 563 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in Marcus & Millichap in the first quarter worth approximately $85,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Trading Up 1.1 %

MMI stock opened at $40.58 on Friday. Marcus & Millichap, Inc. has a twelve month low of $29.93 and a twelve month high of $44.24. The company’s 50 day moving average is $38.91 and its two-hundred day moving average is $36.43. The stock has a market cap of $1.58 billion, a P/E ratio of -50.10 and a beta of 1.14.

Analyst Ratings Changes

Separately, 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.

Insiders Place Their Bets

In other news, Director Norma J. Lawrence sold 1,123 shares of Marcus & Millichap stock in a transaction on Friday, September 13th. The shares were sold at an average price of $40.00, for a total value of $44,920.00. Following the transaction, the director now directly owns 24,971 shares of the company’s stock, valued at $998,840. The trade was a 4.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Hessam Nadji sold 659 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $40.33, for a total transaction of $26,577.47. Following the completion of the transaction, the chief executive officer now directly owns 209,123 shares in the company, valued at $8,433,930.59. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.20% of the stock is owned by corporate insiders.

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.