Marcus & Millichap Inc. (MMI) Sees Unusually-High Trading Volume
Marcus & Millichap Inc. (NYSE:MMI) saw strong trading volume on Monday . 149,307 shares changed hands during mid-day trading, an increase of 48% from the previous session’s volume of 101,149 shares.The stock last traded at $28.87 and had previously closed at $28.02.
A number of research analysts have commented on the company. Zacks Investment Research downgraded Marcus & Millichap from a “hold” rating to a “sell” rating in a research note on Wednesday, July 27th. JMP Securities restated a “hold” rating on shares of Marcus & Millichap in a research note on Wednesday, June 8th. Finally, TheStreet upgraded Marcus & Millichap from a “sell” rating to a “hold” rating in a research note on Wednesday, June 1st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Marcus & Millichap has a consensus rating of “Hold” and a consensus target price of $37.50.
The company has a market capitalization of $1.08 billion and a P/E ratio of 16.75. The stock has a 50 day moving average of $26.76 and a 200-day moving average of $24.86.
Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.06. The company earned $183.38 million during the quarter, compared to the consensus estimate of $171.25 million. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts expect that Marcus & Millichap Inc. will post $1.75 earnings per share for the current year.
In related news, CEO Hessam Nadji sold 22,022 shares of the firm’s stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $26.16, for a total transaction of $576,095.52. Following the sale, the chief executive officer now owns 364,971 shares of the company’s stock, valued at approximately $9,547,641.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William E. Hughes sold 13,300 shares of the firm’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $27.61, for a total value of $367,213.00. The disclosure for this sale can be found here.
A number of hedge funds have modified their holdings of the company. BlackRock Advisors LLC increased its stake in shares of 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 valued at $21,913,000 after buying an additional 45,730 shares during the last quarter. Dimensional Fund Advisors LP increased 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 valued at $10,143,000 after buying an additional 51,638 shares during the last quarter. Jennison Associates LLC increased 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 valued at $12,523,000 after buying an additional 53,655 shares during the last quarter. Finally, Nationwide Fund Advisors increased its stake in shares of 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 valued at $1,272,000 after buying an additional 2,950 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 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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