Wall Street Zen Downgrades Marcus & Millichap (NYSE:MMI) to Hold

Marcus & Millichap (NYSE:MMI) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Separately, Weiss Ratings lowered shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Marcus & Millichap currently has an average rating of “Sell” and an average target price of $28.00.

Marcus & Millichap Price Performance

MMI traded down $0.14 on Friday, hitting $30.73. 97,482 shares of the stock were exchanged, compared to its average volume of 184,781. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -3,070.43 and a beta of 1.23. Marcus & Millichap has a 12 month low of $24.43 and a 12 month high of $33.62. The business has a 50-day moving average of $29.77 and a two-hundred day moving average of $27.74.

Marcus & Millichap (NYSE:MMI) last released its earnings results on Thursday, May 7th. The real estate investment trust reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). The firm had revenue of $171.47 million for the quarter, compared to analyst estimates of $162.20 million. Marcus & Millichap had a negative net margin of 0.08% and a positive return on equity of 0.43%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in Marcus & Millichap by 79.6% in the third quarter. JPMorgan Chase & Co. now owns 57,410 shares of the real estate investment trust’s stock valued at $1,685,000 after purchasing an additional 25,441 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of Marcus & Millichap by 35.7% during the third quarter. Tudor Investment Corp ET AL now owns 90,830 shares of the real estate investment trust’s stock worth $2,666,000 after purchasing an additional 23,885 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in shares of Marcus & Millichap by 13.5% in the fourth quarter. Deprince Race & Zollo Inc. now owns 264,518 shares of the real estate investment trust’s stock valued at $7,219,000 after buying an additional 31,380 shares during the period. Vanguard Group Inc. increased its stake in shares of Marcus & Millichap by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 3,816,951 shares of the real estate investment trust’s stock valued at $104,165,000 after buying an additional 86,609 shares during the period. Finally, AlphaQuest LLC raised its holdings in Marcus & Millichap by 301.4% in the 4th quarter. AlphaQuest LLC now owns 46,764 shares of the real estate investment trust’s stock valued at $1,276,000 after buying an additional 35,115 shares during the last quarter. Institutional investors own 62.78% of the company’s stock.

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.