Marcus & Millichap, Inc. (NYSE:MMI) SVP William E. Hughes sold 2,199 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $27.99, for a total transaction of $61,550.01. Following the sale, the senior vice president now owns 40,540 shares in the company, valued at approximately $1,134,714.60. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Marcus & Millichap, Inc. (MMI) traded up 0.94% during mid-day trading on Wednesday, hitting $28.02. 99,500 shares of the stock were exchanged. The firm has a market cap of $1.07 billion, a P/E ratio of 18.31 and a beta of 1.55. The stock’s 50 day moving average is $26.14 and its 200 day moving average is $25.61. Marcus & Millichap, Inc. has a 12 month low of $22.93 and a 12 month 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 EPS for the quarter, beating the consensus estimate of $0.33 by $0.07. The firm had revenue of $180.37 million for the quarter, compared to analyst estimates of $177.40 million. Marcus & Millichap had a return on equity of 22.56% and a net margin of 8.51%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 earnings per share. Analysts expect that Marcus & Millichap, Inc. will post $1.43 EPS for the current fiscal year.
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A number of brokerages have recently commented on MMI. BidaskClub cut shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Zacks Investment Research upgraded shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $27.00.
Several institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in shares of Marcus & Millichap by 7.7% during the second quarter. The Manufacturers Life Insurance Company now owns 13,515 shares of the real estate investment trust’s stock valued at $356,000 after buying an additional 967 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Marcus & Millichap by 118.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 63,400 shares of the real estate investment trust’s stock valued at $1,671,000 after buying an additional 34,400 shares during the period. New Mountain Vantage Advisers L.L.C. purchased a new position in shares of Marcus & Millichap during the second quarter valued at $3,914,000. State Street Corp increased its stake in shares of Marcus & Millichap by 8.1% during the second quarter. State Street Corp now owns 273,854 shares of the real estate investment trust’s stock valued at $7,218,000 after buying an additional 20,583 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Marcus & Millichap during the second quarter valued at $249,000. Hedge funds and other institutional investors own 41.90% of the company’s stock.
Marcus & Millichap Company Profile
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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