Marcus & Millichap (NYSE:MMI) Upgraded at Wall Street Zen

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

Several other research firms also recently issued reports on MMI. Weiss Ratings reiterated a “sell (d+)” rating on shares of Marcus & Millichap in a report on Monday, December 29th. Wells Fargo & Company lowered their target price on Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating for the company in a report on Monday, February 2nd. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Marcus & Millichap has a consensus rating of “Sell” and a consensus target price of $28.00.

Marcus & Millichap Stock Performance

Marcus & Millichap stock opened at $25.75 on Friday. The company has a market capitalization of $980.34 million, a PE ratio of -643.61 and a beta of 1.32. Marcus & Millichap has a fifty-two week low of $24.43 and a fifty-two week high of $35.64. The firm has a 50 day moving average price of $26.20 and a 200 day moving average price of $28.06.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Friday, February 13th. The real estate investment trust reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.12. Marcus & Millichap had a positive return on equity of 0.20% and a negative net margin of 0.25%.The company had revenue of $243.95 million for the quarter, compared to analysts’ expectations of $229.45 million.

Insider Activity at Marcus & Millichap

In other Marcus & Millichap news, CEO Hessam Nadji sold 1,300 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $25.60, for a total value of $33,280.00. Following the completion of the transaction, the chief executive officer owned 480 shares in the company, valued at $12,288. The trade was a 73.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 39.20% of the stock is currently owned by company insiders.

Institutional Trading of Marcus & Millichap

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Marcus & Millichap by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 3,816,951 shares of the real estate investment trust’s stock worth $104,165,000 after acquiring an additional 86,609 shares in the last quarter. Tributary Capital Management LLC raised its position in shares of Marcus & Millichap by 92.4% during the 3rd quarter. Tributary Capital Management LLC now owns 1,339,094 shares of the real estate investment trust’s stock worth $39,302,000 after acquiring an additional 643,277 shares in the last quarter. State Street Corp lifted its stake in Marcus & Millichap by 3.0% during the fourth quarter. State Street Corp now owns 951,032 shares of the real estate investment trust’s stock worth $25,954,000 after purchasing an additional 27,275 shares during the last quarter. Pzena Investment Management LLC lifted its stake in Marcus & Millichap by 2.8% during the third quarter. Pzena Investment Management LLC now owns 631,330 shares of the real estate investment trust’s stock worth $18,530,000 after purchasing an additional 16,920 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Marcus & Millichap by 1.9% in the second quarter. Geode Capital Management LLC now owns 625,781 shares of the real estate investment trust’s stock valued at $19,219,000 after purchasing an additional 11,819 shares in the last quarter. 62.78% of the stock is currently owned by institutional investors and hedge funds.

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.