Marcus & Millichap Inc. (MMI) Trading Down 3.2%
Marcus & Millichap Inc. (NYSE:MMI)’s share price dropped 3.2% during mid-day trading on Tuesday . The company traded as low as $27.49 and last traded at $27.90, with a volume of 53,709 shares. The stock had previously closed at $28.81.
MMI has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Marcus & Millichap from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Wednesday, May 18th. JMP Securities restated a “hold” rating on shares of Marcus & Millichap in a research report on Wednesday, June 8th. Finally, TheStreet upgraded shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research report on Wednesday, June 1st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $37.50.
The stock has a market capitalization of $1.04 billion and a price-to-earnings ratio of 16.08. The firm’s 50-day moving average price is $26.95 and its 200-day moving average price is $24.91.
Marcus & Millichap (NYSE:MMI) last released its quarterly earnings data on Thursday, August 4th. The real estate investment trust reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.06. The firm earned $183.38 million during the quarter, compared to analyst estimates of $171.25 million. The firm’s revenue was up 5.7% on a year-over-year basis. On average, equities research analysts forecast that Marcus & Millichap Inc. will post $1.75 EPS for the current year.
In related news, SVP William E. Hughes sold 13,300 shares of the stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $27.61, for a total value of $367,213.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hessam Nadji sold 22,022 shares of the stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $26.16, for a total transaction of $576,095.52. Following the completion of the transaction, the chief executive officer now owns 364,971 shares of the company’s stock, valued at approximately $9,547,641.36. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Marcus & Millichap stock. Jennison Associates LLC increased its position in shares of Marcus & Millichap Inc. (NYSE:MMI) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 429,739 shares of the real estate investment trust’s stock after buying an additional 53,655 shares during the period. Jennison Associates LLC owned approximately 1.16% of Marcus & Millichap worth $12,523,000 at the end of the most recent quarter.
Marcus & Millichap, Inc is a brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. The Company also offers market research, consulting and advisory services to its clients. It also offers two services to its clients, such as commercial real estate investment brokerage, and financing and ancillary services.
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