Marcus & Millichap (NYSE:MMI) Upgraded by Wall Street Zen to Buy Rating

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

Other analysts have also issued research reports about the stock. Weiss Ratings restated a “sell (d)” rating on shares of Marcus & Millichap in a research report on Wednesday, October 8th. Citizens Jmp started coverage on Marcus & Millichap in a research report on Monday, July 21st. They set a “market perform” rating on the stock. Wells Fargo & Company reduced their price target on Marcus & Millichap from $30.00 to $29.00 and set an “underweight” rating for the company in a report on Friday, October 24th. Finally, JMP Securities began coverage on Marcus & Millichap in a research report on Monday, July 21st. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Marcus & Millichap currently has an average rating of “Reduce” and an average target price of $29.00.

Marcus & Millichap Stock Performance

NYSE MMI opened at $29.02 on Friday. The firm has a market capitalization of $1.13 billion, a P/E ratio of -93.61 and a beta of 1.34. The stock has a 50-day simple moving average of $30.06 and a two-hundred day simple moving average of $30.49. Marcus & Millichap has a fifty-two week low of $27.35 and a fifty-two week high of $42.80.

Marcus & Millichap (NYSE:MMI) last posted its earnings results on Friday, November 7th. The real estate investment trust reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.13. The firm had revenue of $193.89 million for the quarter, compared to analyst estimates of $183.10 million. Marcus & Millichap had a negative return on equity of 1.99% and a negative net margin of 1.69%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Reinhart Partners LLC. boosted its position in shares of Marcus & Millichap by 2.4% during the 2nd quarter. Reinhart Partners LLC. now owns 2,214,779 shares of the real estate investment trust’s stock worth $68,016,000 after purchasing an additional 51,844 shares during the period. Tributary Capital Management LLC lifted its stake in Marcus & Millichap by 92.4% during the third quarter. Tributary Capital Management LLC now owns 1,339,094 shares of the real estate investment trust’s stock worth $39,302,000 after purchasing an additional 643,277 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Marcus & Millichap by 2.8% during the third quarter. Pzena Investment Management LLC now owns 631,330 shares of the real estate investment trust’s stock worth $18,530,000 after buying an additional 16,920 shares during the period. Geode Capital Management LLC boosted its position in shares of Marcus & Millichap by 1.9% during the second quarter. Geode Capital Management LLC now owns 625,781 shares of the real estate investment trust’s stock worth $19,219,000 after buying an additional 11,819 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Marcus & Millichap by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 407,137 shares of the real estate investment trust’s stock worth $14,026,000 after buying an additional 3,577 shares during the period. 62.78% of the stock is currently 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.