Lazard Asset Management LLC Purchases 952 Shares of Marcus & Millichap, Inc. (NYSE:MMI)

Lazard Asset Management LLC lifted its position in shares of Marcus & Millichap, Inc. (NYSE:MMIGet Rating) by 117.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,760 shares of the real estate investment trust’s stock after purchasing an additional 952 shares during the quarter. Lazard Asset Management LLC’s holdings in Marcus & Millichap were worth $65,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MMI. SG Americas Securities LLC purchased a new position in shares of Marcus & Millichap during the 1st quarter valued at about $172,000. Envestnet Asset Management Inc. raised its holdings in shares of Marcus & Millichap by 8.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 57,810 shares of the real estate investment trust’s stock valued at $3,045,000 after buying an additional 4,584 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Marcus & Millichap by 257.0% during the 1st quarter. Russell Investments Group Ltd. now owns 37,839 shares of the real estate investment trust’s stock valued at $1,991,000 after buying an additional 27,239 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Marcus & Millichap during the 1st quarter valued at about $496,000. Finally, Teacher Retirement System of Texas raised its holdings in shares of Marcus & Millichap by 7.8% during the 1st quarter. Teacher Retirement System of Texas now owns 4,944 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 356 shares in the last quarter. 60.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. StockNews.com assumed coverage on Marcus & Millichap in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Wells Fargo & Company reduced their price target on Marcus & Millichap from $30.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, September 23rd.

Insider Buying and Selling

In related news, insider Gregory A. Laberge sold 1,257 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $36.75, for a total transaction of $46,194.75. Following the transaction, the insider now directly owns 8,915 shares in the company, valued at approximately $327,626.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 38.80% of the stock is owned by corporate insiders.

Marcus & Millichap Price Performance

MMI opened at $37.57 on Friday. The stock’s 50 day simple moving average is $35.30 and its 200 day simple moving average is $37.55. Marcus & Millichap, Inc. has a 1 year low of $31.11 and a 1 year high of $58.33. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 9.61 and a beta of 1.02.

About Marcus & Millichap

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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.

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

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