Wellington Management Group LLP Sells 3,778 Shares of Marcus & Millichap, Inc. (NYSE:MMI)

Wellington Management Group LLP trimmed its position in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 395,285 shares of the real estate investment trust’s stock after selling 3,778 shares during the period. Wellington Management Group LLP owned approximately 1.02% of Marcus & Millichap worth $15,665,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MMI. LRI Investments LLC lifted its position in shares of Marcus & Millichap by 11.0% during the 2nd quarter. LRI Investments LLC now owns 4,706 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 468 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Marcus & Millichap by 8.4% during the third quarter. BNP Paribas Financial Markets now owns 5,165 shares of the real estate investment trust’s stock valued at $205,000 after acquiring an additional 400 shares during the period. Heritage Family Offices LLP bought a new position in Marcus & Millichap during the second quarter valued at about $207,000. Hsbc Holdings PLC bought a new stake in shares of Marcus & Millichap in the 2nd quarter worth approximately $212,000. Finally, Price T Rowe Associates Inc. MD grew its holdings 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 worth $233,000 after purchasing an additional 767 shares in the last quarter. 62.78% of the stock is owned by institutional investors and hedge funds.

Marcus & Millichap Stock Down 1.8 %

NYSE MMI opened at $40.08 on Friday. Marcus & Millichap, Inc. has a twelve month low of $29.93 and a twelve month high of $44.24. The stock has a market cap of $1.56 billion, a P/E ratio of -49.48 and a beta of 1.15. The company’s 50-day simple moving average is $39.53 and its 200 day simple moving average is $37.29.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company raised 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.

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.