Marcus & Millichap (NYSE:MMI) Stock Rating Upgraded by Zacks Investment Research

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Marcus & Millichap (NYSE:MMI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “Marcus & Millichap, Inc. operates a brokerage firm specializing in real estate investments. It offers commercial real estate investment brokerage services for multifamily, retail, office, industrial, land, self-storage, seniors housing, manufactured housing, and mixed-use/other property types. The company also provides a range of advisory and consulting services to developers, lenders, owners, real estate investment trusts, high net worth individuals, pension fund advisors, and other institutions. Marcus & Millichap, Inc. is based in Calabasas, California. “

Other research analysts also recently issued research reports about the stock. Wells Fargo & Co increased their price target on shares of Marcus & Millichap from $23.00 to $28.00 and gave the company an “underweight” rating in a report on Wednesday, June 10th. TheStreet cut Marcus & Millichap from a “b” rating to a “c+” rating in a research report on Friday, March 13th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Marcus & Millichap currently has an average rating of “Hold” and an average price target of $29.00.

Marcus & Millichap stock opened at $27.31 on Wednesday. Marcus & Millichap has a 12 month low of $21.90 and a 12 month high of $38.24. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 14.53 and a beta of 1.11. The business’s fifty day simple moving average is $28.70 and its two-hundred day simple moving average is $31.30. The company has a current ratio of 5.37, a quick ratio of 5.37 and a debt-to-equity ratio of 0.12.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. Marcus & Millichap had a net margin of 8.89% and a return on equity of 15.44%. The company had revenue of $190.70 million for the quarter, compared to analysts’ expectations of $167.80 million. During the same quarter in the previous year, the business posted $0.40 EPS. Marcus & Millichap’s revenue was up 18.7% compared to the same quarter last year. On average, equities research analysts predict that Marcus & Millichap will post 0.56 EPS for the current year.

In other Marcus & Millichap news, CEO Hessam Nadji sold 7,500 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $32.38, for a total value of $242,850.00. Following the completion of the transaction, the chief executive officer now owns 259,119 shares of the company’s stock, valued at approximately $8,390,273.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. 41.30% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Point72 Hong Kong Ltd bought a new position in shares of Marcus & Millichap in the fourth quarter worth about $25,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Marcus & Millichap by 42.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,236 shares of the real estate investment trust’s stock valued at $88,000 after acquiring an additional 963 shares in the last quarter. Advisor Group Holdings Inc. bought a new stake in shares of Marcus & Millichap in the first quarter worth about $168,000. IndexIQ Advisors LLC bought a new stake in shares of Marcus & Millichap in the first quarter worth about $177,000. Finally, First Quadrant L P CA increased its stake in Marcus & Millichap by 50,857.1% in the 1st quarter. First Quadrant L P CA now owns 7,134 shares of the real estate investment trust’s stock worth $193,000 after acquiring an additional 7,120 shares during the last quarter. Institutional investors own 56.53% of the company’s stock.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc, a brokerage company, provides real estate 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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