Thrivent Financial for Lutherans Lowers Stock Holdings in Marcus & Millichap, Inc. (NYSE:MMI)

Thrivent Financial for Lutherans lessened its holdings in Marcus & Millichap, Inc. (NYSE:MMI) by 5.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 18,850 shares of the real estate investment trust’s stock after selling 1,049 shares during the period. Thrivent Financial for Lutherans’ holdings in Marcus & Millichap were worth $747,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pzena Investment Management LLC grew its position in shares of Marcus & Millichap by 122.2% during the second quarter. Pzena Investment Management LLC now owns 641,667 shares of the real estate investment trust’s stock worth $20,225,000 after purchasing an additional 352,832 shares in the last quarter. Reinhart Partners LLC. grew its holdings in Marcus & Millichap by 16.1% during the 2nd quarter. Reinhart Partners LLC. now owns 1,706,366 shares of the real estate investment trust’s stock valued at $53,785,000 after buying an additional 236,324 shares in the last quarter. Deprince Race & Zollo Inc. bought a new stake in shares of Marcus & Millichap during the second quarter valued at approximately $2,543,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Marcus & Millichap by 103.8% in the third quarter. Harbor Capital Advisors Inc. now owns 149,403 shares of the real estate investment trust’s stock worth $5,921,000 after buying an additional 76,089 shares in the last quarter. Finally, Quest Partners LLC boosted its position in shares of Marcus & Millichap by 144,346.2% during the second quarter. Quest Partners LLC now owns 18,778 shares of the real estate investment trust’s stock worth $592,000 after acquiring an additional 18,765 shares during the last quarter. 62.78% of the stock is owned by institutional investors.

Marcus & Millichap Price Performance

Shares of MMI opened at $41.33 on Wednesday. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -51.02 and a beta of 1.15. Marcus & Millichap, Inc. has a 1 year low of $29.93 and a 1 year high of $44.24. The business’s 50 day simple moving average is $39.15 and its 200-day simple moving average is $36.85.

Analyst Ratings Changes

Separately, Wells Fargo & Company boosted 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.

Insider Transactions at Marcus & Millichap

In related news, Director Norma J. Lawrence sold 1,123 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $40.00, for a total transaction of $44,920.00. Following the sale, the director now owns 24,971 shares in the company, valued at approximately $998,840. This represents a 4.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 39.89% of the company’s stock.

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.