Marcus & Millichap, Inc. (NYSE:MMI) Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Marcus & Millichap, Inc. (NYSE:MMI) from a buy rating to a hold rating in a report issued on Tuesday, July 11th.

Several other equities analysts also recently issued reports on the stock. ValuEngine downgraded shares of Marcus & Millichap from a buy rating to a hold rating in a report on Friday, June 2nd. William Blair downgraded shares of Marcus & Millichap from an outperform rating to a market perform rating in a research note on Friday, March 24th. Finally, Zacks Investment Research downgraded shares of Marcus & Millichap from a hold rating to a strong sell rating in a research note on Wednesday, March 15th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $27.00.

Shares of Marcus & Millichap (MMI) opened at 25.46 on Tuesday. The stock has a market cap of $970.46 million, a price-to-earnings ratio of 16.64 and a beta of 1.55. The firm has a 50-day moving average price of $26.26 and a 200-day moving average price of $25.66. Marcus & Millichap has a one year low of $22.93 and a one year high of $30.31.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.07. Marcus & Millichap had a net margin of 8.51% and a return on equity of 23.27%. The firm had revenue of $180.37 million during the quarter, compared to the consensus estimate of $177.40 million. During the same period last year, the firm posted $0.45 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Analysts anticipate that Marcus & Millichap will post $1.42 earnings per share for the current fiscal year.

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In other news, CEO Hessam Nadji sold 8,500 shares of Marcus & Millichap stock in a transaction that occurred on Thursday, May 25th. The shares were 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 in the company, valued at approximately $7,448,980.01. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 58.30% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. boosted its position in shares of Marcus & Millichap by 0.3% in the second quarter. Alps Advisors Inc. now owns 18,396 shares of the real estate investment trust’s stock worth $485,000 after buying an additional 48 shares in the last quarter. Legal & General Group Plc boosted its position in Marcus & Millichap by 1.1% in the first quarter. Legal & General Group Plc now owns 5,227 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 57 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Marcus & Millichap by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 51,379 shares of the real estate investment trust’s stock valued at $1,355,000 after buying an additional 285 shares during the period. Prescott Group Capital Management L.L.C. boosted its position in Marcus & Millichap by 0.9% in the first quarter. Prescott Group Capital Management L.L.C. now owns 44,884 shares of the real estate investment trust’s stock valued at $1,103,000 after buying an additional 390 shares during the period. Finally, American International Group Inc. boosted its position in Marcus & Millichap by 7.1% in the first quarter. American International Group Inc. now owns 8,946 shares of the real estate investment trust’s stock valued at $220,000 after buying an additional 594 shares during the period. Hedge funds and other institutional investors own 42.44% of the company’s stock.

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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