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

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

Separately, Weiss Ratings downgraded shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Sell” and a consensus target price of $28.00.

Marcus & Millichap Stock Up 4.1%

Shares of NYSE:MMI opened at $31.29 on Friday. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -3,125.77 and a beta of 1.25. Marcus & Millichap has a 12-month low of $24.43 and a 12-month high of $33.62. The business’s 50 day moving average is $29.08 and its 200 day moving average is $27.50.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $171.47 million during the quarter, compared to the consensus estimate of $162.20 million. Marcus & Millichap had a positive return on equity of 0.43% and a negative net margin of 0.08%.Marcus & Millichap’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.11) earnings per share.

Hedge Funds Weigh In On Marcus & Millichap

Hedge funds and other institutional investors have recently modified their holdings of the business. Kestra Advisory Services LLC bought a new position in shares of Marcus & Millichap in the fourth quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd increased its position in shares of Marcus & Millichap by 79,800.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,598 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 1,596 shares during the last quarter. State of Wyoming purchased a new stake in shares of Marcus & Millichap during the first quarter valued at approximately $64,000. Quantbot Technologies LP bought a new stake in Marcus & Millichap during the second quarter worth $137,000. Finally, Strs Ohio bought a new stake in Marcus & Millichap during the first quarter worth $145,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

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.