BidaskClub cut shares of Marcus & Millichap, Inc. (NYSE:MMI) from a buy rating to a hold rating in a research note issued to investors on Tuesday.
A number of other equities research analysts also recently commented on the company. ValuEngine downgraded Marcus & Millichap from a buy rating to a hold rating in a research report on Friday, June 2nd. William Blair downgraded Marcus & Millichap from an outperform rating to a market perform rating in a research report on Friday, March 24th. Finally, Zacks Investment Research downgraded Marcus & Millichap from a hold rating to a strong sell rating in a research report on Wednesday, March 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $27.00.
Marcus & Millichap (NYSE MMI) traded up 0.37% during trading on Tuesday, hitting $27.11. The stock had a trading volume of 116,991 shares. Marcus & Millichap has a one year low of $22.93 and a one year high of $30.31. The stock’s 50-day moving average is $24.97 and its 200 day moving average is $25.69. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 17.06 and a beta of 1.57.
Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Tuesday, May 9th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. Marcus & Millichap had a return on equity of 24.81% and a net margin of 8.75%. The company had revenue of $153.20 million during the quarter, compared to analysts’ expectations of $150.57 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. Equities analysts anticipate that Marcus & Millichap will post $1.38 earnings per share for the current year.
In other Marcus & Millichap news, CEO Hessam Nadji sold 8,500 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $24.41, for a total transaction of $207,485.00. Following the completion of the sale, the chief executive officer now owns 305,161 shares of the company’s stock, valued at $7,448,980.01. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 58.30% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Royce & Associates LP increased its stake in Marcus & Millichap by 37.9% in the first quarter. Royce & Associates LP now owns 3,483,324 shares of the real estate investment trust’s stock worth $85,620,000 after buying an additional 957,701 shares during the period. Aberdeen Asset Management PLC UK increased its stake in shares of Marcus & Millichap by 56.4% in the first quarter. Aberdeen Asset Management PLC UK now owns 1,408,893 shares of the real estate investment trust’s stock valued at $34,631,000 after buying an additional 507,862 shares during the last quarter. Norges Bank bought a new stake in shares of Marcus & Millichap during the fourth quarter valued at $4,758,000. MARSHALL WACE ASIA Ltd bought a new stake in shares of Marcus & Millichap during the first quarter valued at $3,993,000. Finally, Marshall Wace North America L.P. bought a new stake in shares of Marcus & Millichap during the first quarter valued at $3,993,000. 41.21% of the stock is owned by hedge funds and other institutional investors.
About Marcus & Millichap
Marcus & Millichap, Inc is a brokerage company specializing in commercial real estate investment sales, financing, research and advisory services. The Company offers three primary services to its clients: commercial real estate investment brokerage, financing, and ancillary services, including other research, advisory and consulting services.
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