Equities analysts expect Marcus & Millichap, Inc. (NYSE:MMI) to report earnings of $0.42 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Marcus & Millichap’s earnings, with the highest EPS estimate coming in at $0.43 and the lowest estimate coming in at $0.40. Marcus & Millichap reported earnings of $0.44 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.5%. The firm is scheduled to issue its next earnings results on Thursday, March 8th.
According to Zacks, analysts expect that Marcus & Millichap will report full year earnings of $1.52 per share for the current year, with EPS estimates ranging from $1.50 to $1.53. For the next fiscal year, analysts anticipate that the business will post earnings of $1.64 per share, with EPS estimates ranging from $1.60 to $1.67. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that cover Marcus & Millichap.
Several equities research analysts recently issued reports on MMI shares. Zacks Investment Research raised Marcus & Millichap from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Wednesday, November 22nd. Citigroup raised Marcus & Millichap from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 14th. Finally, Wells Fargo & Company reissued a “market perform” rating and set a $31.00 price objective (up previously from $25.00) on shares of Marcus & Millichap in a research note on Wednesday, November 8th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $33.00.
In other Marcus & Millichap 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 transaction of $161,940.00. Following the sale, the senior vice president now owns 40,540 shares in the company, valued at $1,094,174.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Phoenix Investments Holdings L sold 569,087 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $30.63, for a total value of $17,431,134.81. Following the sale, the insider now owns 18,988,795 shares in the company, valued at approximately $581,626,790.85. The disclosure for this sale can be found here. Insiders have sold 1,692,911 shares of company stock valued at $51,631,187 in the last three months. 58.30% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. raised its position in Marcus & Millichap by 0.3% during the second quarter. Alps Advisors Inc. now owns 18,396 shares of the real estate investment trust’s stock valued at $485,000 after purchasing an additional 48 shares in the last quarter. Legal & General Group Plc raised its position in Marcus & Millichap by 1.1% during the first quarter. Legal & General Group Plc now owns 5,227 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 57 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Marcus & Millichap by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 51,379 shares of the real estate investment trust’s stock valued at $1,355,000 after purchasing an additional 285 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Marcus & Millichap by 2.1% in the second quarter. Teachers Advisors LLC now owns 34,161 shares of the real estate investment trust’s stock worth $900,000 after buying an additional 689 shares during the period. Finally, Pacific Ridge Capital Partners LLC increased its holdings in shares of Marcus & Millichap by 1.9% in the second quarter. Pacific Ridge Capital Partners LLC now owns 39,150 shares of the real estate investment trust’s stock worth $1,032,000 after buying an additional 720 shares during the period. Institutional investors and hedge funds own 45.04% of the company’s stock.
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About Marcus & Millichap
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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