Pitcairn Co. Sells 464 Shares of Marcus & Millichap, Inc. (NYSE:MMI)

Pitcairn Co. trimmed its holdings in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 3.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 14,295 shares of the real estate investment trust’s stock after selling 464 shares during the quarter. Pitcairn Co.’s holdings in Marcus & Millichap were worth $567,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other Marcus & Millichap news, Director Norma J. Lawrence sold 1,123 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 24,971 shares of the company’s stock, valued at $998,840. This represents a 4.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 39.20% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company boosted their price objective on Marcus & Millichap from $20.00 to $30.00 and gave the company an “underweight” rating in a research report on Friday, September 6th.

Marcus & Millichap Stock Up 2.5 %

Shares of NYSE:MMI opened at $42.22 on Tuesday. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -52.12 and a beta of 1.14. Marcus & Millichap, Inc. has a 12 month low of $29.93 and a 12 month high of $44.24. The company’s fifty day simple moving average is $38.97 and its 200 day simple moving average is $36.59.

Marcus & Millichap 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.