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

Marcus & Millichap (NYSE:MMI) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

MMI has been the subject of a number of other reports. Weiss Ratings restated a “sell (d+)” rating on shares of Marcus & Millichap in a research report on Monday, December 1st. Wells Fargo & Company dropped their price objective on Marcus & Millichap from $30.00 to $29.00 and set an “underweight” rating for the company in a research note on Friday, October 24th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $29.00.

Marcus & Millichap Stock Down 0.5%

Shares of MMI opened at $28.96 on Friday. Marcus & Millichap has a twelve month low of $27.35 and a twelve month high of $42.53. The stock has a market cap of $1.13 billion, a PE ratio of -181.00 and a beta of 1.32. The business’s 50-day moving average price is $29.34 and its 200-day moving average price is $30.42.

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

Hedge Funds Weigh In On Marcus & Millichap

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Nuveen LLC purchased a new stake in Marcus & Millichap during the first quarter valued at about $2,570,000. American Century Companies Inc. increased its holdings in shares of Marcus & Millichap by 9.8% in the first quarter. American Century Companies Inc. now owns 60,716 shares of the real estate investment trust’s stock worth $2,092,000 after buying an additional 5,430 shares during the period. Pzena Investment Management LLC lifted its stake in shares of Marcus & Millichap by 6.6% in the 2nd quarter. Pzena Investment Management LLC now owns 614,410 shares of the real estate investment trust’s stock valued at $18,869,000 after acquiring an additional 38,159 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Marcus & Millichap by 8.2% during the 1st quarter. Russell Investments Group Ltd. now owns 168,736 shares of the real estate investment trust’s stock valued at $5,813,000 after acquiring an additional 12,717 shares during the period. Finally, State of Alaska Department of Revenue grew its position in Marcus & Millichap by 7.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 14,383 shares of the real estate investment trust’s stock worth $441,000 after acquiring an additional 1,050 shares during the last quarter. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.