Zacks Investment Research upgraded shares of Marcus & Millichap, Inc. (NYSE:MMI) from a sell rating to a hold rating in a report released on Wednesday, August 9th.
According to Zacks, “Marcus & Millichap, Inc. operates a brokerage firm specializing in real estate investments. It offers commercial real estate investment brokerage services for multifamily, retail, office, industrial, land, self-storage, seniors housing, manufactured housing, and mixed-use/other property types. The company also provides a range of advisory and consulting services to developers, lenders, owners, real estate investment trusts, high net worth individuals, pension fund advisors, and other institutions. Marcus & Millichap, Inc. is based in Calabasas, California. “
Other equities analysts have also issued research reports about the stock. ValuEngine lowered shares of Marcus & Millichap from a buy rating to a hold rating in a research report on Friday, June 2nd. BidaskClub lowered shares of Marcus & Millichap from a buy rating to a hold rating in a research report on Tuesday, July 11th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $27.00.
Shares of Marcus & Millichap (NYSE MMI) traded down 1.06% during mid-day trading on Wednesday, hitting $25.11. 69,099 shares of the stock were exchanged. The company has a 50-day moving average of $26.23 and a 200 day moving average of $25.67. The stock has a market cap of $957.12 million, a PE ratio of 16.41 and a beta of 1.55. Marcus & Millichap has a one year low of $22.93 and a one year high of $30.31.
Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.07. Marcus & Millichap had a net margin of 8.51% and a return on equity of 22.56%. The company had revenue of $180.37 million for the quarter, compared to the consensus estimate of $177.40 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts predict that Marcus & Millichap will post $1.42 earnings per share for the current year.
In other news, CEO Hessam Nadji sold 8,500 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $24.41, for a total value of $207,485.00. Following the completion of the transaction, the chief executive officer now owns 305,161 shares of the company’s stock, valued at $7,448,980.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 58.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of MMI. SG Americas Securities LLC purchased a new position in Marcus & Millichap during the second quarter worth $101,000. Victory Capital Management Inc. raised its position in shares of Marcus & Millichap by 57.9% in the first quarter. Victory Capital Management Inc. now owns 5,123 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 1,878 shares during the period. Legal & General Group Plc raised its position in shares of Marcus & Millichap by 1.1% in the first quarter. Legal & General Group Plc now owns 5,227 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 57 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Marcus & Millichap by 16.2% in the first quarter. Public Employees Retirement System of Ohio now owns 5,958 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 831 shares during the period. Finally, American International Group Inc. raised its position in shares of Marcus & Millichap by 7.1% in the first quarter. American International Group Inc. now owns 8,946 shares of the real estate investment trust’s stock valued at $220,000 after buying an additional 594 shares during the period. 42.80% of the stock is owned by institutional investors and hedge funds.
Marcus & Millichap Company Profile
Marcus & Millichap, Inc is a brokerage company specializing in commercial real estate investment sales, financing, research and advisory services. The Company offers three primary services to its clients: commercial real estate investment brokerage, financing, and ancillary services, including other research, advisory and consulting services.
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