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

Zacks Investment Research cut shares of Marcus & Millichap (NYSE:MMI) from a buy rating to a hold rating in a research note published 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 upgraded Marcus & Millichap from a sell rating to a hold rating in a research note on Friday, July 26th.

Shares of NYSE MMI opened at $34.12 on Wednesday. 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 capitalization of $1.40 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 3.05 and a beta of 1.21. The stock’s fifty day simple moving average is $35.77 and its 200 day simple moving average is $35.36. Marcus & Millichap has a 52-week low of $29.49 and a 52-week high of $43.50.

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

In related news, CEO Hessam Nadji sold 11,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $36.25, for a total transaction 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 approximately $9,127,460. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 41.70% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC acquired a new position in Marcus & Millichap in the 2nd quarter valued at approximately $38,000. Point72 Hong Kong Ltd bought a new stake in shares of Marcus & Millichap in the 2nd quarter valued at approximately $60,000. Bank of Montreal Can grew its stake in shares of Marcus & Millichap by 249.0% in the 2nd quarter. Bank of Montreal Can now owns 2,705 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 1,930 shares during the period. Creative Financial Designs Inc. ADV grew its stake in shares of Marcus & Millichap by 17.9% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 2,800 shares of the real estate investment trust’s stock valued at $87,000 after purchasing an additional 425 shares during the period. Finally, NumerixS Investment Technologies Inc grew its stake in shares of Marcus & Millichap by 4,100.0% in the 1st quarter. NumerixS Investment Technologies Inc now owns 4,200 shares of the real estate investment trust’s stock valued at $170,000 after purchasing an additional 4,100 shares during the period. 58.80% of the stock is owned by hedge funds and other institutional investors.

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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