Marcus & Millichap (NYSE:MMI) Lowered to “Sell” Rating by Wall Street Zen

Marcus & Millichap (NYSE:MMI) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Other analysts also recently issued research reports about the company. JMP Securities initiated coverage on Marcus & Millichap in a research report on Monday, July 21st. They issued a “market perform” rating for the company. Citizens Jmp started coverage on Marcus & Millichap in a research report on Monday, July 21st. They issued a “market perform” rating for the company.

Marcus & Millichap Stock Up 1.2%

Shares of NYSE:MMI opened at $29.08 on Friday. The business has a 50 day moving average price of $30.94 and a 200 day moving average price of $32.84. Marcus & Millichap has a twelve month low of $27.61 and a twelve month high of $42.80. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -93.81 and a beta of 1.27.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.24). Marcus & Millichap had a negative return on equity of 1.99% and a negative net margin of 1.69%. The firm had revenue of $172.28 million during the quarter, compared to the consensus estimate of $172.60 million.

Hedge Funds Weigh In On Marcus & Millichap

A number of hedge funds have recently modified their holdings of MMI. Sterling Capital Management LLC raised its holdings in shares of Marcus & Millichap by 807.2% in the 4th quarter. Sterling Capital Management LLC now owns 753 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 670 shares in the last quarter. AlphaQuest LLC increased its holdings in Marcus & Millichap by 410.6% during the 1st quarter. AlphaQuest LLC now owns 2,931 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 2,357 shares in the last quarter. Strs Ohio acquired a new stake in Marcus & Millichap during the 1st quarter valued at $145,000. State of Wyoming acquired a new stake in Marcus & Millichap during the 4th quarter valued at $156,000. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in Marcus & Millichap by 16.4% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,606 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 790 shares in the last quarter. 62.78% of the stock is owned by institutional investors and hedge funds.

About Marcus & Millichap

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.