Marcus & Millichap (MMI) Lifted to “Buy” at ValuEngine

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Marcus & Millichap (NYSE:MMI) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Several other research firms have also issued reports on MMI. JMP Securities lowered shares of Marcus & Millichap from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 22nd. Zacks Investment Research lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Saturday, August 11th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Marcus & Millichap presently has a consensus rating of “Hold” and an average target price of $42.67.

Shares of NYSE MMI traded up $1.78 during trading hours on Wednesday, hitting $36.89. 556,000 shares of the stock were exchanged, compared to its average volume of 204,116. The company has a current ratio of 5.69, a quick ratio of 5.69 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 22.77, a P/E/G ratio of 2.94 and a beta of 1.13. Marcus & Millichap has a 1-year low of $28.89 and a 1-year high of $41.45.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Tuesday, August 7th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.04. The business had revenue of $199.40 million for the quarter, compared to analyst estimates of $194.60 million. Marcus & Millichap had a net margin of 8.44% and a return on equity of 23.06%. On average, equities research analysts forecast that Marcus & Millichap will post 1.99 earnings per share for the current year.

In other Marcus & Millichap news, Director George M. Marcus sold 28,315 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $38.30, for a total value of $1,084,464.50. Following the sale, the director now owns 18,021 shares in the company, valued at $690,204.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Phoenix Investments Holdings L sold 109,458 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $37.95, for a total transaction of $4,153,931.10. Following the completion of the sale, the insider now owns 15,743,744 shares in the company, valued at approximately $597,475,084.80. The disclosure for this sale can be found here. Insiders have sold a total of 894,852 shares of company stock worth $32,227,552 in the last quarter. 50.10% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in Marcus & Millichap by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 166,245 shares of the real estate investment trust’s stock valued at $6,485,000 after buying an additional 7,987 shares in the last quarter. BlackRock Inc. boosted its position in Marcus & Millichap by 82.9% in the second quarter. BlackRock Inc. now owns 1,943,505 shares of the real estate investment trust’s stock valued at $75,817,000 after buying an additional 880,988 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Marcus & Millichap by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,115,290 shares of the real estate investment trust’s stock valued at $43,508,000 after buying an additional 35,755 shares in the last quarter. Victory Capital Management Inc. boosted its position in Marcus & Millichap by 15.9% in the second quarter. Victory Capital Management Inc. now owns 13,465 shares of the real estate investment trust’s stock valued at $525,000 after buying an additional 1,847 shares in the last quarter. Finally, Martingale Asset Management L P acquired a new stake in Marcus & Millichap in the second quarter valued at approximately $1,628,000. Hedge funds and other institutional investors own 50.88% of the company’s stock.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc, a brokerage firm, provides investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, and industrial properties, as well as hospitality, self-storage, seniors housing, land, and manufactured housing properties.

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