Harbor Capital Advisors Inc. Acquires 76,089 Shares of Marcus & Millichap, Inc. (NYSE:MMI)

Harbor Capital Advisors Inc. boosted its holdings in Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 103.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 149,403 shares of the real estate investment trust's stock after acquiring an additional 76,089 shares during the period. Harbor Capital Advisors Inc. owned 0.39% of Marcus & Millichap worth $5,921,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Marcus & Millichap in the first quarter valued at approximately $85,000. EntryPoint Capital LLC acquired a new position in Marcus & Millichap in the 1st quarter valued at $85,000. LRI Investments LLC bought a new position in Marcus & Millichap during the 1st quarter worth $143,000. Heritage Family Offices LLP acquired a new stake in shares of Marcus & Millichap during the second quarter worth $207,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Marcus & Millichap in the second quarter valued at about $212,000. Institutional investors and hedge funds own 62.78% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. StockNews.com upgraded shares of Marcus & Millichap from a "sell" rating to a "hold" rating in a research note on Wednesday, July 24th. Wells Fargo & Company lifted their price target on shares of Marcus & Millichap from $20.00 to $30.00 and gave the company an "underweight" rating in a research report on Friday, September 6th.

Insider Activity at Marcus & Millichap

In other Marcus & Millichap news, CEO Hessam Nadji sold 659 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $40.33, for a total transaction of $26,577.47. Following the completion of the sale, the chief executive officer now directly owns 209,123 shares in the company, valued at $8,433,930.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Hessam Nadji sold 659 shares of the company's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $40.33, for a total transaction of $26,577.47. Following the completion of the transaction, the chief executive officer now directly owns 209,123 shares in the company, valued at $8,433,930.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Norma J. Lawrence sold 1,123 shares of the company's stock in a transaction 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 transaction, the director now owns 24,971 shares of the company's stock, valued at $998,840. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,023 shares of company stock valued at $603,521 over the last three months. 39.20% of the stock is owned by insiders.

Marcus & Millichap Stock Up 0.8 %

Shares of MMI traded up $0.29 during trading hours on Monday, hitting $37.95. 67,966 shares of the company were exchanged, compared to its average volume of 126,671. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -41.70 and a beta of 1.14. The firm's fifty day moving average is $38.38 and its 200 day moving average is $35.65. Marcus & Millichap, Inc. has a fifty-two week low of $29.30 and a fifty-two week high of $44.24.

Marcus & Millichap (NYSE:MMI - Get Free Report) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. Marcus & Millichap had a negative net margin of 5.68% and a negative return on equity of 5.50%. The firm had revenue of $158.37 million for the quarter.

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.