Fmr LLC Lowers Stock Holdings in Marcus & Millichap, Inc. (NYSE:MMI)

Fmr LLC reduced its holdings in Marcus & Millichap, Inc. (NYSE:MMI) by 45.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,513 shares of the real estate investment trust’s stock after selling 2,937 shares during the quarter. Fmr LLC’s holdings in Marcus & Millichap were worth $139,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MMI. Heritage Family Offices LLP acquired a new position in shares of Marcus & Millichap in the 2nd quarter valued at $207,000. Hsbc Holdings PLC purchased a new position in shares of Marcus & Millichap in the 2nd quarter worth $212,000. Oppenheimer Asset Management Inc. acquired a new position in Marcus & Millichap in the second quarter valued at $256,000. Louisiana State Employees Retirement System grew its position in Marcus & Millichap by 2.5% during the second quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the real estate investment trust’s stock valued at $381,000 after acquiring an additional 300 shares during the period. Finally, Inspire Investing LLC purchased a new stake in Marcus & Millichap during the third quarter valued at about $416,000. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

Marcus & Millichap Stock Up 0.9 %

MMI opened at $37.99 on Monday. Marcus & Millichap, Inc. has a 52-week low of $29.93 and a 52-week high of $44.24. The company has a 50 day moving average of $39.79 and a two-hundred day moving average of $37.53. The company has a market cap of $1.47 billion, a P/E ratio of -46.90 and a beta of 1.15.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lifted 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.

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.