ValuEngine upgraded shares of Marcus & Millichap (NYSE:MMI) from a hold rating to a buy rating in a research report released on Wednesday.

A number of other brokerages also recently issued reports on MMI. Zacks Investment Research downgraded shares of Marcus & Millichap from a buy rating to a hold rating in a research report on Saturday, August 11th. JMP Securities downgraded shares of Marcus & Millichap from an outperform rating to a market perform rating in a research report on Wednesday, August 22nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Marcus & Millichap has a consensus rating of Hold and an average price target of $42.67.

MMI stock traded up $0.49 during trading on Wednesday, reaching $37.38. The stock had a trading volume of 420,772 shares, compared to its average volume of 473,856. Marcus & Millichap has a one year low of $28.89 and a one year high of $41.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.69 and a current ratio of 5.69. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 3.09 and a beta of 1.13.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings data on Wednesday, November 7th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.04. Marcus & Millichap had a net margin of 8.83% and a return on equity of 24.17%. The business had revenue of $210.60 million during the quarter, compared to the consensus estimate of $192.58 million. During the same period in the prior year, the firm posted $0.40 EPS. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, sell-side analysts forecast that Marcus & Millichap will post 1.99 EPS for the current fiscal year.

In other Marcus & Millichap news, major shareholder Phoenix Investments Holdings L sold 24,648 shares of the business’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $36.20, for a total value of $892,257.60. Following the transaction, the insider now directly owns 15,186,021 shares in the company, valued at $549,733,960.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director George M. Marcus sold 1,420 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $36.81, for a total transaction of $52,270.20. Following the completion of the transaction, the director now owns 18,021 shares in the company, valued at $663,353.01. The disclosure for this sale can be found here. Insiders sold a total of 919,500 shares of company stock valued at $33,119,810 over the last ninety days. 58.30% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in Marcus & Millichap by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 166,245 shares of the real estate investment trust’s stock valued at $6,485,000 after acquiring an additional 7,987 shares during the last quarter. BlackRock Inc. boosted its stake in Marcus & Millichap by 82.9% in the second quarter. BlackRock Inc. now owns 1,943,505 shares of the real estate investment trust’s stock valued at $75,817,000 after acquiring an additional 880,988 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Marcus & Millichap by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,115,290 shares of the real estate investment trust’s stock valued at $43,508,000 after acquiring an additional 35,755 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Marcus & Millichap by 15.9% in the second quarter. Victory Capital Management Inc. now owns 13,465 shares of the real estate investment trust’s stock valued at $525,000 after acquiring an additional 1,847 shares during the last quarter. Finally, Martingale Asset Management L P purchased a new position in Marcus & Millichap in the second quarter valued at about $1,628,000. Hedge funds and other institutional investors own 50.88% of the company’s stock.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc, a brokerage firm, provides 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, and industrial properties, as well as hospitality, self-storage, seniors housing, land, and manufactured housing properties.

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