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

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

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

Marcus & Millichap Stock Down 1.2%

MMI opened at $25.75 on Friday. The company has a market cap of $980.34 million, a PE ratio of -643.61 and a beta of 1.32. Marcus & Millichap has a twelve month low of $24.43 and a twelve month high of $35.64. The company has a 50-day moving average price of $26.20 and a 200 day moving average price of $28.06.

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

Insiders Place Their Bets

In other news, CEO Hessam Nadji sold 1,300 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $25.60, for a total transaction of $33,280.00. Following the transaction, the chief executive officer directly owned 480 shares in the company, valued at $12,288. The trade was a 73.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 39.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Marcus & Millichap

Several hedge funds and other institutional investors have recently made changes to their positions in MMI. Kestra Advisory Services LLC acquired a new position in shares of Marcus & Millichap in the 4th quarter valued at $30,000. Caitong International Asset Management Co. Ltd increased its position in shares of Marcus & Millichap by 79,800.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,598 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,596 shares during the last quarter. CWM LLC raised its holdings in Marcus & Millichap by 299.6% in the 3rd quarter. CWM LLC now owns 3,261 shares of the real estate investment trust’s stock valued at $96,000 after buying an additional 2,445 shares during the period. LRI Investments LLC raised its holdings in Marcus & Millichap by 316.2% in the 3rd quarter. LRI Investments LLC now owns 3,484 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 2,647 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Marcus & Millichap in the second quarter valued at about $137,000. 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.