Marcus & Millichap Inc (MMI) Stake Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its position in shares of Marcus & Millichap Inc (NYSE:MMI) by 175.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,742 shares of the real estate investment trust’s stock after purchasing an additional 41,876 shares during the quarter. New York State Common Retirement Fund owned 0.17% of Marcus & Millichap worth $1,774,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Marcus & Millichap in the 2nd quarter valued at $101,000. Victory Capital Management Inc. lifted its position in Marcus & Millichap by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 6,027 shares of the real estate investment trust’s stock valued at $159,000 after acquiring an additional 904 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in Marcus & Millichap in the 2nd quarter valued at $249,000. Parametric Portfolio Associates LLC lifted its position in Marcus & Millichap by 34.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 11,281 shares of the real estate investment trust’s stock valued at $297,000 after acquiring an additional 2,909 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Marcus & Millichap by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,515 shares of the real estate investment trust’s stock valued at $356,000 after acquiring an additional 967 shares in the last quarter. 41.01% of the stock is currently owned by institutional investors.

Shares of Marcus & Millichap Inc (NYSE:MMI) opened at $32.61 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.62 and a quick ratio of 4.62. Marcus & Millichap Inc has a 52-week low of $23.22 and a 52-week high of $32.72. The company has a market cap of $1,243.77, a price-to-earnings ratio of 21.18, a P/E/G ratio of 3.59 and a beta of 1.59.

In other Marcus & Millichap news, SVP William E. Hughes sold 2,199 shares of Marcus & Millichap stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $27.99, for a total value of $61,550.01. Following the sale, the senior vice president now directly owns 40,540 shares in the company, valued at approximately $1,134,714.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George M. Marcus sold 16,819 shares of Marcus & Millichap stock in a transaction on Friday, November 10th. The shares were sold at an average price of $30.34, for a total transaction of $510,288.46. Following the completion of the sale, the director now owns 15,879 shares in the company, valued at $481,768.86. The disclosure for this sale can be found here. Insiders sold a total of 1,686,911 shares of company stock worth $51,469,247 over the last quarter. Company insiders own 58.30% of the company’s stock.

MMI has been the topic of several research reports. Citigroup raised shares of Marcus & Millichap from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 14th. Zacks Investment Research raised shares of Marcus & Millichap from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Wednesday, November 22nd. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and issued a $31.00 price objective (up from $25.00) on shares of Marcus & Millichap in a research report on Wednesday, November 8th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Marcus & Millichap currently has a consensus rating of “Hold” and a consensus price target of $33.00.

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About Marcus & Millichap

Marcus & Millichap, Inc is a brokerage company specializing in commercial real estate investment sales, financing, research and advisory services. The Company offers three primary services to its clients: commercial real estate investment brokerage, financing, and ancillary services, including other research, advisory and consulting services.

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Institutional Ownership by Quarter for Marcus & Millichap (NYSE:MMI)

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