Geode Capital Management LLC Boosts Stake in Marcus & Millichap, Inc. (NYSE:MMI)

Geode Capital Management LLC lifted its holdings in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 595,145 shares of the real estate investment trust’s stock after purchasing an additional 5,525 shares during the quarter. Geode Capital Management LLC owned about 1.53% of Marcus & Millichap worth $23,591,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets lifted its position in Marcus & Millichap by 8.4% in the third quarter. BNP Paribas Financial Markets now owns 5,165 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 400 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Marcus & Millichap in the 2nd quarter valued at approximately $212,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Marcus & Millichap in the 2nd quarter worth approximately $256,000. Louisiana State Employees Retirement System boosted its position in shares of Marcus & Millichap by 2.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the real estate investment trust’s stock worth $381,000 after purchasing an additional 300 shares during the period. Finally, Inspire Investing LLC acquired a new stake in Marcus & Millichap in the 3rd quarter valued at approximately $416,000. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wells Fargo & Company upped their price target on 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 Price Performance

NYSE MMI opened at $37.96 on Friday. The company has a market cap of $1.47 billion, a P/E ratio of -46.86 and a beta of 1.15. The stock has a 50-day moving average of $39.86 and a two-hundred day moving average of $37.74. Marcus & Millichap, Inc. has a 1-year low of $29.93 and a 1-year high of $44.24.

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.