Marcus & Millichap (MMI) Raised to “Buy” at ValuEngine

Marcus & Millichap (NYSE:MMI) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report released on Thursday.

Separately, Zacks Investment Research raised Marcus & Millichap from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Tuesday, November 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Marcus & Millichap presently has a consensus rating of “Buy” and a consensus target price of $41.67.

Shares of NYSE MMI traded up $0.90 during trading hours on Thursday, hitting $37.84. 184,800 shares of the company traded hands, compared to its average volume of 235,600. The company has a market cap of $1.41 billion, a P/E ratio of 23.36, a P/E/G ratio of 2.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.67 and a current ratio of 4.67. Marcus & Millichap has a 12 month low of $28.89 and a 12 month high of $41.45.

Marcus & Millichap (NYSE:MMI) last released its earnings results on Wednesday, November 7th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.04. The firm had revenue of $210.60 million for the quarter, compared to the consensus estimate of $192.58 million. Marcus & Millichap had a return on equity of 23.36% and a net margin of 8.83%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. As a group, equities analysts predict that Marcus & Millichap will post 2.06 EPS for the current year.

In other Marcus & Millichap news, major shareholder Phoenix Investments Holdings L sold 50,000 shares of the company’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $34.82, for a total value of $1,741,000.00. Following the transaction, the insider now owns 15,293,662 shares of the company’s stock, valued at approximately $532,525,310.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hessam Nadji sold 5,900 shares of the company’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $36.81, for a total value of $217,179.00. Following the completion of the sale, the chief executive officer now owns 281,280 shares of the company’s stock, valued at $10,353,916.80. The disclosure for this sale can be found here. Insiders sold a total of 900,174 shares of company stock worth $32,512,708 in the last ninety days. 50.10% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of MMI. BlackRock Inc. lifted its holdings in shares of Marcus & Millichap by 82.9% in the 2nd quarter. BlackRock Inc. now owns 1,943,505 shares of the real estate investment trust’s stock worth $75,817,000 after buying an additional 880,988 shares during the period. Matarin Capital Management LLC purchased a new stake in shares of Marcus & Millichap in the 3rd quarter worth $10,868,000. Vanguard Group Inc. lifted its holdings in shares of Marcus & Millichap by 11.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,867,177 shares of the real estate investment trust’s stock worth $99,519,000 after buying an additional 295,608 shares during the period. Vanguard Group Inc lifted its holdings in shares of Marcus & Millichap by 11.5% in the 3rd quarter. Vanguard Group Inc now owns 2,867,177 shares of the real estate investment trust’s stock worth $99,519,000 after buying an additional 295,608 shares during the period. Finally, Royce & Associates LP lifted its holdings in shares of Marcus & Millichap by 10.9% in the 3rd quarter. Royce & Associates LP now owns 2,945,718 shares of the real estate investment trust’s stock worth $102,246,000 after buying an additional 289,448 shares during the period. Institutional investors and hedge funds own 52.27% of the company’s stock.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc, a brokerage firm, provides 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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