Marcus & Millichap (NYSE:MMI) Upgraded by Wall Street Zen to “Buy” Rating

Marcus & Millichap (NYSE:MMI) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other research analysts have also weighed in on MMI. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marcus & Millichap in a research report on Monday. Wells Fargo & Company cut their target price on Marcus & Millichap from $30.00 to $29.00 and set an “underweight” rating on the stock in a research note on Friday, October 24th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $29.00.

Marcus & Millichap Trading Down 2.6%

MMI opened at $27.38 on Friday. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -171.12 and a beta of 1.32. The stock has a fifty day simple moving average of $29.22 and a two-hundred day simple moving average of $30.35. Marcus & Millichap has a 12-month low of $27.24 and a 12-month high of $41.94.

Marcus & Millichap (NYSE:MMI) last released its earnings results on Friday, November 7th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.13. The firm had revenue of $193.89 million for the quarter, compared to the consensus estimate of $183.10 million. Marcus & Millichap had a negative net margin of 0.89% and a negative return on equity of 0.58%.

Institutional Trading of Marcus & Millichap

Several institutional investors have recently added to or reduced their stakes in MMI. CWM LLC raised its stake in shares of Marcus & Millichap by 299.6% in the third quarter. CWM LLC now owns 3,261 shares of the real estate investment trust’s stock worth $96,000 after purchasing an additional 2,445 shares during the last quarter. AlphaQuest LLC increased its holdings in Marcus & Millichap by 410.6% in the 1st quarter. AlphaQuest LLC now owns 2,931 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 2,357 shares in the last quarter. LRI Investments LLC increased its holdings in Marcus & Millichap by 316.2% in the 3rd quarter. LRI Investments LLC now owns 3,484 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 2,647 shares in the last quarter. Quantbot Technologies LP purchased a new position in Marcus & Millichap in the 2nd quarter worth about $137,000. Finally, Strs Ohio bought a new position in Marcus & Millichap during the 1st quarter valued at about $145,000. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

Marcus & Millichap Company Profile

Marcus & Millichap (NYSE: MMI) is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.