Marcus & Millichap Inc. (NYSE:MMI) Receives Average Rating of “Hold” from Brokerages
Marcus & Millichap Inc. (NYSE:MMI) has earned a consensus recommendation of “Hold” from the six brokerages that are covering the firm. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $48.00.
Separately, Zacks Investment Research cut shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a research note on Wednesday.
In other Marcus & Millichap news, CEO Hessam Nadji sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $28.65, for a total transaction of $128,925.00. Following the sale, the chief executive officer now owns 361,271 shares in the company, valued at approximately $10,350,414.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP William E. Hughes sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $26.17, for a total transaction of $130,850.00. The disclosure for this sale can be found here. Company insiders own 61.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its stake in Marcus & Millichap by 2.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 45,179 shares of the real estate investment trust’s stock worth $1,148,000 after buying an additional 894 shares during the last quarter. Fiera Capital Corp boosted its stake in Marcus & Millichap by 2.2% in the second quarter. Fiera Capital Corp now owns 54,900 shares of the real estate investment trust’s stock worth $1,395,000 after buying an additional 1,200 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in Marcus & Millichap during the second quarter worth approximately $273,000. Zacks Investment Management purchased a new stake in Marcus & Millichap during the second quarter worth approximately $552,000. Finally, Lord Abbett & CO. LLC boosted its stake in Marcus & Millichap by 0.6% in the second quarter. Lord Abbett & CO. LLC now owns 437,967 shares of the real estate investment trust’s stock worth $11,129,000 after buying an additional 2,806 shares during the last quarter. Institutional investors own 35.28% of the company’s stock.
Shares of Marcus & Millichap (NYSE:MMI) traded down 2.54% during trading on Friday, reaching $24.95. 15,583 shares of the company were exchanged. Marcus & Millichap has a one year low of $18.77 and a one year high of $49.97. The stock has a 50-day moving average price of $25.81 and a 200-day moving average price of $25.79. The stock has a market capitalization of $938.29 million, a PE ratio of 14.51 and a beta of 1.46.
Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.06. Marcus & Millichap had a net margin of 9.41% and a return on equity of 34.19%. The business earned $183.38 million during the quarter, compared to analysts’ expectations of $171.25 million. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts forecast that Marcus & Millichap will post $1.75 EPS for the current year.
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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