Marcus & Millichap Inc. (MMI) Trading Up 1.8%
Shares of Marcus & Millichap Inc. (NYSE:MMI) were up 1.8% during trading on Wednesday . The stock traded as high as $27.78 and last traded at $27.78, with a volume of 58,414 shares. The stock had previously closed at $27.29.
Several analysts have recently commented on MMI shares. TheStreet raised Marcus & Millichap from a “sell” rating to a “hold” rating in a research note on Wednesday, June 1st. Zacks Investment Research raised Marcus & Millichap from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Wednesday, May 18th. Finally, JMP Securities reaffirmed a “hold” rating on shares of Marcus & Millichap in a research report on Wednesday, June 8th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Marcus & Millichap currently has an average rating of “Hold” and a consensus target price of $37.50.
The firm has a market capitalization of $1.04 billion and a P/E ratio of 16.12. The company’s 50 day moving average price is $25.78 and its 200 day moving average price is $24.55.
Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.10. The company earned $164.30 million during the quarter, compared to the consensus estimate of $144.82 million. Marcus & Millichap’s quarterly revenue was up 12.2% on a year-over-year basis. On average, analysts anticipate that Marcus & Millichap Inc. will post $1.76 EPS for the current fiscal year.
In other news, EVP Gene A. Berman sold 54,328 shares of the business’s stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $24.94, for a total value of $1,354,940.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hessam Nadji sold 22,022 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $26.16, for a total value of $576,095.52. Following the completion of the sale, the chief executive officer now directly owns 364,971 shares in the company, valued at $9,547,641.36. The disclosure for this sale can be found here.
Several hedge funds recently modified their holdings of MMI. Royce & Associates LLC boosted its stake in shares of Marcus & Millichap by 1,181.0% in the fourth quarter. Royce & Associates LLC now owns 706,320 shares of the real estate investment trust’s stock worth $20,582,000 after buying an additional 651,180 shares in the last quarter. Oxford Asset Management bought a new stake in shares of Marcus & Millichap during the fourth quarter worth approximately $1,978,000. Jennison Associates LLC boosted its stake in shares of Marcus & Millichap by 14.3% in the fourth quarter. Jennison Associates LLC now owns 429,739 shares of the real estate investment trust’s stock worth $12,523,000 after buying an additional 53,655 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Marcus & Millichap by 17.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 348,102 shares of the real estate investment trust’s stock worth $10,143,000 after buying an additional 51,638 shares in the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Marcus & Millichap by 66.3% in the fourth quarter. GSA Capital Partners LLP now owns 116,646 shares of the real estate investment trust’s stock worth $3,399,000 after buying an additional 46,488 shares during the last 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 developers, lenders, owners and investors. It also offers two services to its clients: commercial real estate investment brokerage and financing.
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