Marcus & Millichap Inc. (MMI) Downgraded 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 research note issued 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 reaffirmed a “hold” rating on shares of Marcus & Millichap in a research note on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Marcus & Millichap has a consensus rating of “Hold” and a consensus target price of $37.50.
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Marcus & Millichap (NYSE:MMI) traded down 1.68% during midday trading on Wednesday, hitting $25.17. 91,219 shares of the stock were exchanged. The company’s 50 day moving average is $25.75 and its 200-day moving average is $25.78. Marcus & Millichap has a 1-year low of $18.77 and a 1-year high of $49.97. The stock has a market cap of $946.57 million, a PE ratio of 14.63 and a beta of 1.46.
Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. Marcus & Millichap had a net margin of 9.41% and a return on equity of 34.19%. The firm had revenue of $183.38 million for the quarter, compared to the consensus estimate of $171.25 million. The firm’s revenue was up 5.7% on a year-over-year basis. On average, analysts expect that Marcus & Millichap will post $1.75 earnings per share for the current year.
In other Marcus & Millichap news, SVP William E. Hughes sold 5,000 shares of Marcus & Millichap stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $26.17, for a total transaction of $130,850.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP William E. Hughes sold 13,300 shares of Marcus & Millichap stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $27.61, for a total transaction of $367,213.00. The disclosure for this sale can be found here. 61.80% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of MMI. New Amsterdam Partners LLC NY acquired a new position in Marcus & Millichap during the second quarter valued at approximately $4,617,000. California State Teachers Retirement System increased its position in Marcus & Millichap by 6.0% in the second quarter. California State Teachers Retirement System now owns 30,458 shares of the real estate investment trust’s stock valued at $774,000 after buying an additional 1,721 shares during the period. Bank of New York Mellon Corp increased its position in Marcus & Millichap by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 76,064 shares of the real estate investment trust’s stock valued at $1,933,000 after buying an additional 1,273 shares during the period. Strs Ohio increased its position in Marcus & Millichap by 1.6% in the second quarter. Strs Ohio now owns 25,900 shares of the real estate investment trust’s stock valued at $658,000 after buying an additional 400 shares during the period. Finally, Bank of Montreal Can acquired a new position in Marcus & Millichap during the second quarter valued at approximately $122,000. 35.28% of the stock is currently owned by hedge funds and other 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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