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

Zacks Investment Research upgraded shares of Marcus & Millichap (NYSE:MMI) from a strong sell rating to a hold rating in a research report sent to investors 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 cut Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd.

Shares of NYSE:MMI opened at $31.67 on Wednesday. Marcus & Millichap has a 52-week low of $29.49 and a 52-week high of $43.50. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.64 and a quick ratio of 4.64. The stock has a market capitalization of $1.24 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 2.84 and a beta of 1.33. The stock has a 50-day moving average price of $31.00.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.02). Marcus & Millichap had a net margin of 10.60% and a return on equity of 21.53%. The company had revenue of $160.70 million for the quarter, compared to analysts’ expectations of $178.13 million. During the same period in the previous year, the firm earned $0.46 earnings per share. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. As a group, equities analysts forecast that Marcus & Millichap will post 1.86 earnings per share for the current year.

In other news, VP Mitchell R. Labar sold 10,586 shares of Marcus & Millichap stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $31.24, for a total transaction of $330,706.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 41.70% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of MMI. Bank of Montreal Can raised its stake in Marcus & Millichap by 63.2% during the 1st quarter. Bank of Montreal Can now owns 775 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 300 shares during the period. NumerixS Investment Technologies Inc raised its stake in Marcus & Millichap by 4,100.0% during 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. Advisor Group Inc. raised its stake in Marcus & Millichap by 8.5% during the 4th quarter. Advisor Group Inc. now owns 4,590 shares of the real estate investment trust’s stock valued at $158,000 after purchasing an additional 359 shares during the period. BNP Paribas Arbitrage SA raised its stake in Marcus & Millichap by 286.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,775 shares of the real estate investment trust’s stock valued at $194,000 after purchasing an additional 3,538 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new stake in Marcus & Millichap during the 1st quarter valued at approximately $202,000. 57.43% of the stock is currently 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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