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

Wall Street Zen upgraded shares of Marcus & Millichap (NYSE:MMI) from a hold rating to a buy rating in a research note released on Saturday morning.

Several other equities analysts have also commented on the company. Wells Fargo & Company dropped their target price on Marcus & Millichap from $30.00 to $29.00 and set an “underweight” rating for the company in a research note on Friday, October 24th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Marcus & Millichap in a report on Monday, December 15th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $29.00.

Marcus & Millichap Stock Performance

Shares of MMI opened at $27.76 on Friday. Marcus & Millichap has a 1 year low of $27.24 and a 1 year high of $41.94. The company’s 50 day simple moving average is $29.20 and its 200 day simple moving average is $30.35. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -173.48 and a beta of 1.32.

Marcus & Millichap (NYSE:MMI) last released 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. Marcus & Millichap had a negative net margin of 0.89% and a negative return on equity of 0.58%. The firm had revenue of $193.89 million during the quarter, compared to analysts’ expectations of $183.10 million.

Institutional Trading of Marcus & Millichap

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC lifted its position in Marcus & Millichap by 299.6% during the third 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 in the last quarter. AlphaQuest LLC raised its stake in shares of Marcus & Millichap by 410.6% in the 1st quarter. AlphaQuest LLC now owns 2,931 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 2,357 shares during the period. LRI Investments LLC lifted its holdings in shares of Marcus & Millichap by 316.2% during the 3rd quarter. LRI Investments LLC now owns 3,484 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 2,647 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Marcus & Millichap during the 2nd quarter worth $137,000. Finally, Strs Ohio acquired a new stake in Marcus & Millichap in the 1st quarter valued at $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.