Marcus & Millichap, Inc. (MMI) Receives Consensus Rating of “Hold” from Brokerages
Marcus & Millichap, Inc. (NYSE:MMI) has earned an average recommendation of “Hold” from the seven research firms that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $27.00.
A number of research analysts have recently issued reports on the company. BidaskClub cut Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Zacks Investment Research raised Marcus & Millichap from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th.
In related news, SVP William E. Hughes sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $26.99, for a total value of $161,940.00. Following the sale, the senior vice president now directly owns 40,540 shares of the company’s stock, valued at $1,094,174.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William E. Hughes sold 2,199 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $27.99, for a total value of $61,550.01. Following the completion of the sale, the senior vice president now directly owns 40,540 shares in the company, valued at $1,134,714.60. The disclosure for this sale can be found here. Insiders sold 19,199 shares of company stock worth $523,190 over the last three months. 58.30% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of MMI. Tributary Capital Management LLC bought a new stake in shares of Marcus & Millichap in the second quarter worth about $13,409,000. Vivaldi Asset Management LLC grew its stake in shares of Marcus & Millichap by 3,527.7% in the second quarter. Vivaldi Asset Management LLC now owns 363,316 shares of the real estate investment trust’s stock worth $9,577,000 after purchasing an additional 353,301 shares during the last quarter. Royce & Associates LP grew its stake in shares of Marcus & Millichap by 9.0% in the second quarter. Royce & Associates LP now owns 3,796,629 shares of the real estate investment trust’s stock worth $100,079,000 after purchasing an additional 313,305 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Marcus & Millichap in the first quarter worth about $3,993,000. Finally, MARSHALL WACE ASIA Ltd bought a new stake in shares of Marcus & Millichap in the first quarter worth about $3,993,000. 41.90% of the stock is currently owned by institutional investors.
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Marcus & Millichap (NYSE:MMI) opened at 28.02 on Thursday. Marcus & Millichap has a one year low of $22.93 and a one year high of $30.31. The firm has a market capitalization of $1.07 billion, a P/E ratio of 18.31 and a beta of 1.55. The firm’s 50-day moving average price is $26.14 and its 200 day moving average price is $25.61.
Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.07. Marcus & Millichap had a return on equity of 22.56% and a net margin of 8.51%. The firm had revenue of $180.37 million for the quarter, compared to analysts’ expectations of $177.40 million. During the same period last 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 anticipate that Marcus & Millichap will post $1.43 earnings per share for the current fiscal year.
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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