Marcus & Millichap Inc (MMI) Expected to Announce Quarterly Sales of $188.00 Million

Equities analysts forecast that Marcus & Millichap Inc (NYSE:MMI) will report sales of $188.00 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Marcus & Millichap’s earnings. Marcus & Millichap posted sales of $189.16 million in the same quarter last year, which suggests a negative year-over-year growth rate of 0.6%. The firm is expected to issue its next earnings results on Thursday, March 8th.

On average, analysts expect that Marcus & Millichap will report full year sales of $188.00 million for the current year. For the next fiscal year, analysts anticipate that the business will report sales of $731.80 million per share, with estimates ranging from $724.10 million to $739.50 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Marcus & Millichap.

A number of research firms have recently issued reports on MMI. William Blair reissued a “market perform” rating on shares of Marcus & Millichap in a research note on Thursday, February 1st. Zacks Investment Research downgraded shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. JMP Securities raised shares of Marcus & Millichap from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 24th. Citigroup raised shares of Marcus & Millichap from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 14th. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and set a $31.00 target price (up from $25.00) on shares of Marcus & Millichap in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $33.00.

In other Marcus & Millichap news, CEO Hessam Nadji sold 15,196 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $32.39, for a total value of $492,198.44. Following the sale, the chief executive officer now directly owns 288,727 shares of the company’s stock, valued at approximately $9,351,867.53. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Phoenix Investments Holdings L sold 373,707 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $30.52, for a total transaction of $11,405,537.64. Following the completion of the sale, the insider now directly owns 19,473,794 shares in the company, valued at $594,340,192.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,595,654 shares of company stock worth $48,792,444. 58.30% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in MMI. US Bancorp DE increased its position in shares of Marcus & Millichap by 198.3% in the 4th quarter. US Bancorp DE now owns 6,484 shares of the real estate investment trust’s stock valued at $212,000 after purchasing an additional 4,310 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Marcus & Millichap by 39.5% in the 3rd quarter. Victory Capital Management Inc. now owns 8,407 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 2,380 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Marcus & Millichap in the 2nd quarter valued at approximately $249,000. Russell Investments Group Ltd. purchased a new stake in shares of Marcus & Millichap in the 3rd quarter valued at approximately $264,000. Finally, Parametric Portfolio Associates LLC increased its position in shares of Marcus & Millichap by 34.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 11,281 shares of the real estate investment trust’s stock valued at $297,000 after purchasing an additional 2,909 shares during the last quarter. 41.92% of the stock is currently owned by institutional investors.

Shares of Marcus & Millichap (NYSE MMI) opened at $30.21 on Monday. The stock has a market cap of $1,152.24, a P/E ratio of 19.62, a PEG ratio of 3.08 and a beta of 1.47. Marcus & Millichap has a 52 week low of $23.22 and a 52 week high of $33.30. The company has a quick ratio of 4.62, a current ratio of 4.62 and a debt-to-equity ratio of 0.02.

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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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