Marcus & Millichap (NYSE:MMI) Raised to “Buy” at Wall Street Zen

Marcus & Millichap (NYSE:MMI) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other equities research analysts have also issued reports on MMI. Weiss Ratings reissued a “sell (d+)” rating on shares of Marcus & Millichap in a research report on Monday, December 29th. Wells Fargo & Company reduced their price target on Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating for the company in a research report on Monday, February 2nd. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Marcus & Millichap presently has a consensus rating of “Sell” and a consensus target price of $28.00.

Marcus & Millichap Trading Up 0.2%

MMI opened at $25.75 on Friday. The stock has a market capitalization of $980.34 million, a P/E ratio of -643.61 and a beta of 1.32. Marcus & Millichap has a 12 month low of $24.43 and a 12 month high of $35.64. The firm’s fifty day simple moving average is $26.20 and its 200 day simple moving average is $28.00.

Marcus & Millichap (NYSE:MMI) last released its earnings results on Friday, February 13th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.12. The firm had revenue of $243.95 million during the quarter, compared to analysts’ expectations of $229.45 million. Marcus & Millichap had a positive return on equity of 0.20% and a negative net margin of 0.25%.

Insider Activity

In related news, CEO Hessam Nadji sold 1,300 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $25.60, for a total transaction of $33,280.00. Following the sale, the chief executive officer owned 480 shares in the company, valued at approximately $12,288. This represents a 73.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 39.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in shares of Marcus & Millichap by 42.8% during the 1st quarter. AQR Capital Management LLC now owns 13,702 shares of the real estate investment trust’s stock worth $472,000 after purchasing an additional 4,110 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Marcus & Millichap by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 600 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Marcus & Millichap by 12.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,339 shares of the real estate investment trust’s stock worth $2,664,000 after buying an additional 8,369 shares during the last quarter. Jane Street Group LLC raised its position in Marcus & Millichap by 325.7% during the first quarter. Jane Street Group LLC now owns 43,091 shares of the real estate investment trust’s stock worth $1,484,000 after acquiring an additional 32,968 shares in the last quarter. Finally, Strs Ohio bought a new stake in Marcus & Millichap during the first quarter worth $145,000. Institutional investors and hedge funds own 62.78% of the company’s stock.

Marcus & Millichap Company Profile

Marcus & Millichap (NYSE: MMI) is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.