Marcus & Millichap (NYSE:MMI) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Marcus & Millichap (NYSE:MMI) from a buy rating to a hold rating in a research note issued to investors on Sunday.

A number of other brokerages have also commented on MMI. Wells Fargo & Company lowered their price target on Marcus & Millichap from $30.00 to $29.00 and set an “underweight” rating on the stock in a report on Friday, October 24th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Marcus & Millichap in a research report on Monday, December 22nd. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $29.00.

Marcus & Millichap Trading Down 1.0%

MMI opened at $27.55 on Friday. The business’s 50 day moving average is $29.10 and its 200-day moving average is $30.27. The stock has a market cap of $1.07 billion, a PE ratio of -172.19 and a beta of 1.32. Marcus & Millichap has a twelve month low of $27.10 and a twelve month high of $41.94.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings data on Friday, November 7th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.13. The business had revenue of $193.89 million during the quarter, compared to analyst estimates of $183.10 million. Marcus & Millichap had a negative return on equity of 0.58% and a negative net margin of 0.89%.

Institutional Investors Weigh In On Marcus & Millichap

Several hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC boosted its position in shares of Marcus & Millichap by 299.6% during the 3rd quarter. CWM LLC now owns 3,261 shares of the real estate investment trust’s stock valued at $96,000 after purchasing an additional 2,445 shares in the last quarter. AlphaQuest LLC lifted its stake in Marcus & Millichap by 410.6% during the first quarter. AlphaQuest LLC now owns 2,931 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 2,357 shares during the last quarter. LRI Investments LLC boosted its holdings in Marcus & Millichap by 316.2% during the third quarter. LRI Investments LLC now owns 3,484 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 2,647 shares in the last quarter. Quantbot Technologies LP bought a new stake in Marcus & Millichap during the second quarter worth approximately $137,000. Finally, Strs Ohio acquired a new position in Marcus & Millichap in the first quarter worth approximately $145,000. 62.78% of the stock is currently owned by institutional investors.

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.