Zacks Investment Research Downgrades Marcus & Millichap (NYSE:MMI) to Hold

Zacks Investment Research lowered shares of Marcus & Millichap (NYSE:MMI) from a buy rating to a hold rating in a report issued on Wednesday morning, 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. “

Separately, ValuEngine raised shares of Marcus & Millichap from a sell rating to a hold rating in a research report on Friday, July 26th.

Shares of NYSE:MMI traded up $1.18 during trading on Wednesday, reaching $35.24. The stock had a trading volume of 121,538 shares, compared to its average volume of 136,479. The business has a fifty day moving average price of $35.77 and a 200-day moving average price of $35.33. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.38 billion, a P/E ratio of 15.87, a PEG ratio of 2.90 and a beta of 1.21. Marcus & Millichap has a fifty-two week low of $29.49 and a fifty-two week high of $43.50.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.11. The business had revenue of $209.59 million during the quarter, compared to analyst estimates of $188.33 million. Marcus & Millichap had a net margin of 10.35% and a return on equity of 20.13%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 earnings per share. As a group, equities analysts forecast that Marcus & Millichap will post 1.96 EPS for the current year.

In other news, CEO Hessam Nadji sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $36.25, for a total value of $398,750.00. Following the completion of the transaction, the chief executive officer now owns 251,792 shares of the company’s stock, valued at $9,127,460. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 41.70% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Northern Trust Corp increased its position in Marcus & Millichap by 3.4% during the second quarter. Northern Trust Corp now owns 314,128 shares of the real estate investment trust’s stock worth $9,692,000 after purchasing an additional 10,453 shares during the last quarter. Capital Fund Management S.A. acquired a new position in Marcus & Millichap during the second quarter worth approximately $549,000. Swiss National Bank increased its position in Marcus & Millichap by 22.7% during the second quarter. Swiss National Bank now owns 43,300 shares of the real estate investment trust’s stock worth $1,336,000 after purchasing an additional 8,000 shares during the last quarter. U S Global Investors Inc. acquired a new position in Marcus & Millichap during the second quarter worth approximately $716,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in Marcus & Millichap during the second quarter worth approximately $216,000. 58.80% of the stock is owned by institutional investors and hedge funds.

About Marcus & Millichap

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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