Marcus & Millichap Inc. (MMI) Sees Strong Trading Volume
Marcus & Millichap Inc. (NYSE:MMI) shares saw unusually-high trading volume on Tuesday . Approximately 108,018 shares were traded during mid-day trading, an increase of 52% from the previous session’s volume of 71,223 shares.The stock last traded at $28.04 and had previously closed at $28.18.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Marcus & Millichap from a “hold” rating to a “buy” rating and set a $27.00 price objective 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 Marcus & Millichap from a “sell” rating to a “hold” rating in a research report on Wednesday, June 1st. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $37.50.
The company’s 50 day moving average price is $26.48 and its 200-day moving average price is $24.73. The firm has a market capitalization of $1.06 billion and a price-to-earnings ratio of 16.43.
Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. The firm had revenue of $183.38 million for the quarter, compared to analysts’ expectations of $171.25 million. The business’s revenue was up 5.7% on a year-over-year basis. On average, equities analysts anticipate that Marcus & Millichap Inc. will post $1.73 EPS for the current fiscal year.
In related news, SVP William E. Hughes sold 13,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $27.61, for a total transaction of $367,213.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Hessam Nadji sold 22,022 shares of the firm’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 transaction, the chief executive officer now owns 364,971 shares in the company, valued at approximately $9,547,641.36. The disclosure for this sale can be found here.
Other hedge funds recently bought and sold shares of the company. BlackRock Advisors LLC boosted its stake in Marcus & Millichap by 6.5% in the fourth quarter. BlackRock Advisors LLC now owns 751,988 shares of the real estate investment trust’s stock worth $21,913,000 after buying an additional 45,730 shares during the last quarter. Jennison Associates LLC boosted its stake in 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 during the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 during the last quarter. Nationwide Fund Advisors boosted its stake in Marcus & Millichap by 7.2% in the fourth quarter. Nationwide Fund Advisors now owns 43,642 shares of the real estate investment trust’s stock worth $1,272,000 after buying an additional 2,950 shares during the last quarter. Finally, Freestone Capital Holdings LLC bought a new stake in Marcus & Millichap during the fourth quarter worth $1,185,000.
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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