Marcus & Millichap Inc. (MMI) Lowered to Sell at Zacks Investment Research
Marcus & Millichap Inc. (NYSE:MMI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
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. “
Separately, JMP Securities restated a “hold” rating on shares of Marcus & Millichap in a report on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $37.50.
Shares of Marcus & Millichap (NYSE:MMI) opened at 25.23 on Wednesday. The company has a 50 day moving average price of $25.93 and a 200 day moving average price of $25.79. The company has a market cap of $948.82 million, a PE ratio of 14.67 and a beta of 1.46. Marcus & Millichap has a 52 week low of $18.77 and a 52 week high of $49.97.
Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.06. The business had revenue of $183.38 million for the quarter, compared to analysts’ expectations of $171.25 million. Marcus & Millichap had a return on equity of 34.19% and a net margin of 9.41%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts expect that Marcus & Millichap will post $1.75 earnings per share for the current year.
In other news, CEO Hessam Nadji sold 9,000 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $26.91, for a total transaction of $242,190.00. Following the sale, the chief executive officer now owns 346,971 shares of the company’s stock, valued at $9,336,989.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP William E. Hughes sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $26.17, for a total value of $130,850.00. The disclosure for this sale can be found here. Company insiders own 61.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in Marcus & Millichap during the second quarter worth approximately $122,000. Societe Generale purchased a new stake in shares of Marcus & Millichap during the second quarter worth about $173,000. SG Americas Securities LLC purchased a new stake in shares of Marcus & Millichap during the second quarter worth about $173,000. Nationwide Fund Advisors raised its stake in shares of Marcus & Millichap by 10.7% in the second quarter. Nationwide Fund Advisors now owns 9,471 shares of the real estate investment trust’s stock worth $241,000 after buying an additional 917 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Marcus & Millichap during the second quarter worth about $273,000. 35.28% of the stock is currently owned by institutional investors.
Marcus & Millichap Company Profile
Marcus & Millichap, Inc is a brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. The Company also offers market research, consulting and advisory services to its clients. It also offers two services to its clients, such as commercial real estate investment brokerage, and financing and ancillary services.
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