Lord Abbett & CO. LLC Has $34.47 Million Stake in Marcus & Millichap, Inc. (NYSE:MMI)

Lord Abbett & CO. LLC boosted its holdings in shares of Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 2.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 869,669 shares of the real estate investment trust's stock after purchasing an additional 24,352 shares during the period. Lord Abbett & CO. LLC owned 2.24% of Marcus & Millichap worth $34,465,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MMI. LRI Investments LLC increased its position in 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 acquiring an additional 468 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Marcus & Millichap by 8.4% in the 3rd 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 period. Heritage Family Offices LLP bought a new stake in Marcus & Millichap during the 2nd quarter worth about $207,000. Hsbc Holdings PLC bought a new position in Marcus & Millichap in the second quarter valued at approximately $212,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Marcus & Millichap by 12.7% during 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 acquiring an additional 767 shares during the last quarter. Institutional investors own 62.78% of the company's stock.

Marcus & Millichap Trading Down 1.8 %

Shares of NYSE MMI traded down $0.74 during mid-day trading on Friday, reaching $40.08. 52,956 shares of the company's stock were exchanged, compared to its average volume of 121,440. The business has a fifty day simple moving average of $39.53 and a 200 day simple moving average of $37.33. Marcus & Millichap, Inc. has a twelve month low of $29.93 and a twelve month high of $44.24. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -49.48 and a beta of 1.15.

Analysts Set New Price Targets

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

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.