Marcus & Millichap (NYSE:MMI) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Marcus & Millichap (NYSE:MMI) from a strong sell rating to a hold rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Marcus & Millichap, Inc. operates a brokerage firm specializing in real estate investments. It offers commercial real estate investment brokerage services for multifamily, retail, office, industrial, land, self-storage, seniors housing, manufactured housing, and mixed-use/other property types. The company also provides a range of advisory and consulting services to developers, lenders, owners, real estate investment trusts, high net worth individuals, pension fund advisors, and other institutions. Marcus & Millichap, Inc. is based in Calabasas, California. “

Separately, ValuEngine downgraded Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd.

MMI opened at $31.67 on Wednesday. The business has a fifty day moving average price of $31.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 4.64 and a current ratio of 4.64. The company has a market capitalization of $1.24 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 2.84 and a beta of 1.33. Marcus & Millichap has a 12-month low of $29.49 and a 12-month high of $43.50.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). The firm had revenue of $160.70 million during the quarter, compared to the consensus estimate of $178.13 million. Marcus & Millichap had a return on equity of 21.53% and a net margin of 10.60%. Marcus & Millichap’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. On average, sell-side analysts predict that Marcus & Millichap will post 1.86 EPS for the current fiscal year.

In other news, VP Mitchell R. Labar sold 10,586 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $31.24, for a total transaction of $330,706.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 41.70% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Bank of Montreal Can increased its holdings in shares of Marcus & Millichap by 63.2% during the first quarter. Bank of Montreal Can now owns 775 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 300 shares in the last quarter. Advisor Group Inc. increased its holdings in shares of Marcus & Millichap by 8.5% during the fourth quarter. Advisor Group Inc. now owns 4,590 shares of the real estate investment trust’s stock valued at $158,000 after acquiring an additional 359 shares in the last quarter. NumerixS Investment Technologies Inc increased its holdings in shares of Marcus & Millichap by 4,100.0% during the first quarter. NumerixS Investment Technologies Inc now owns 4,200 shares of the real estate investment trust’s stock valued at $170,000 after acquiring an additional 4,100 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Marcus & Millichap by 286.0% during the first quarter. BNP Paribas Arbitrage SA now owns 4,775 shares of the real estate investment trust’s stock valued at $194,000 after acquiring an additional 3,538 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Marcus & Millichap during the first quarter valued at $202,000. Hedge funds and other institutional investors own 57.43% of the company’s stock.

About Marcus & Millichap

Marcus & Millichap, Inc, a brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, and industrial properties, as well as hospitality, self-storage, seniors housing, land, and manufactured housing properties.

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