Charles Schwab Investment Management Inc. Buys 12,401 Shares of Marcus & Millichap, Inc. (NYSE:MMI)

Charles Schwab Investment Management Inc. raised its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 384,775 shares of the real estate investment trust’s stock after purchasing an additional 12,401 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.99% of Marcus & Millichap worth $15,249,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MMI. LRI Investments LLC raised its stake in shares of Marcus & Millichap by 11.0% in the 2nd quarter. LRI Investments LLC now owns 4,706 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 468 shares in the last quarter. Heritage Family Offices LLP acquired a new position 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 in the 2nd quarter valued at $212,000. Scharf Investments LLC raised its stake in shares of Marcus & Millichap by 17.9% in the 2nd quarter. Scharf Investments LLC now owns 6,962 shares of the real estate investment trust’s stock valued at $219,000 after buying an additional 1,057 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Marcus & Millichap by 12.7% in 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 buying an additional 767 shares in the last quarter. 62.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company increased their price objective on shares of 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 Stock Performance

Shares of MMI stock opened at $41.15 on Friday. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -50.80 and a beta of 1.15. The firm has a fifty day moving average of $39.27 and a 200-day moving average of $37.02. Marcus & Millichap, Inc. has a 52-week low of $29.93 and a 52-week high of $44.24.

Insider Buying and Selling

In related news, Director Norma J. Lawrence sold 1,123 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $40.00, for a total transaction of $44,920.00. Following the completion of the sale, the director now owns 24,971 shares in the company, valued at $998,840. This trade represents a 4.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 39.20% of the stock is currently owned by corporate insiders.

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.