Marcus & Millichap (MMI) Stock Rating Upgraded by JMP Securities

Marcus & Millichap (NYSE:MMI) was upgraded by research analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a report released on Wednesday, Marketbeat reports.

MMI has been the subject of a number of other reports. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $31.00 price target (up from $25.00) on shares of Marcus & Millichap in a report on Wednesday, November 8th. 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 report on Wednesday, November 22nd. Finally, Citigroup raised Marcus & Millichap from a “neutral” rating to a “buy” rating in a report on Tuesday, November 14th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Marcus & Millichap has an average rating of “Hold” and an average price target of $33.00.

Marcus & Millichap (NYSE:MMI) traded up $0.34 during trading on Wednesday, hitting $32.38. The company had a trading volume of 126,919 shares, compared to its average volume of 106,817. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.62 and a quick ratio of 4.62. Marcus & Millichap has a fifty-two week low of $23.22 and a fifty-two week high of $33.30. The company has a market capitalization of $1,222.03, a PE ratio of 21.03, a price-to-earnings-growth ratio of 3.27 and a beta of 1.59.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.05. Marcus & Millichap had a return on equity of 21.37% and a net margin of 8.53%. The business had revenue of $183.34 million during the quarter, compared to analysts’ expectations of $179.40 million. equities analysts predict that Marcus & Millichap will post 1.51 EPS for the current fiscal year.

In other Marcus & Millichap news, SVP William E. Hughes sold 6,840 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $30.05, for a total transaction of $205,542.00. Following the completion of the sale, the senior vice president now directly owns 61,701 shares of the company’s stock, valued at approximately $1,854,115.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hessam Nadji sold 18,500 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $30.40, for a total value of $562,400.00. Following the sale, the chief executive officer now directly owns 303,923 shares of the company’s stock, valued at $9,239,259.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,706,908 shares of company stock valued at $52,147,895 over the last three months. Company insiders own 58.30% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. increased its stake in shares of Marcus & Millichap by 0.6% in the 2nd 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 acquiring an additional 285 shares during the last quarter. Swiss National Bank increased its stake in shares of Marcus & Millichap by 19.0% in the 2nd quarter. Swiss National Bank now owns 28,200 shares of the real estate investment trust’s stock valued at $743,000 after acquiring an additional 4,500 shares during the last quarter. New Mountain Vantage Advisers L.L.C. bought a new stake in shares of Marcus & Millichap in the 2nd quarter valued at about $3,914,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Marcus & Millichap by 118.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 63,400 shares of the real estate investment trust’s stock valued at $1,671,000 after acquiring an additional 34,400 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Marcus & Millichap by 94.1% in the 3rd quarter. Wells Fargo & Company MN now owns 91,429 shares of the real estate investment trust’s stock valued at $2,468,000 after acquiring an additional 44,329 shares during the last quarter. 41.02% of the stock is owned by hedge funds and other institutional investors.

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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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