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

Marcus & Millichap (NYSE:MMI) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other analysts have also commented on the company. Wells Fargo & Company decreased their price objective on Marcus & Millichap from $30.00 to $29.00 and set an “underweight” rating for the company in a report on Friday, October 24th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Marcus & Millichap in a research note on Monday, December 15th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $29.00.

Marcus & Millichap Stock Performance

NYSE:MMI opened at $27.38 on Friday. The company’s 50-day simple moving average is $29.22 and its 200-day simple moving average is $30.36. Marcus & Millichap has a fifty-two week low of $27.24 and a fifty-two week high of $41.94. The stock has a market capitalization of $1.07 billion, a P/E ratio of -171.12 and a beta of 1.32.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings data on Friday, November 7th. The real estate investment trust reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.13. The firm 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

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC increased its holdings in Marcus & Millichap by 299.6% in the third quarter. CWM LLC now owns 3,261 shares of the real estate investment trust’s stock valued at $96,000 after buying an additional 2,445 shares in the last quarter. AlphaQuest LLC boosted its stake in shares of Marcus & Millichap by 410.6% during the 1st quarter. AlphaQuest LLC now owns 2,931 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 2,357 shares in the last quarter. LRI Investments LLC grew its position in shares of Marcus & Millichap by 316.2% during the 3rd quarter. LRI Investments LLC now owns 3,484 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 2,647 shares during the period. Quantbot Technologies LP purchased a new position in shares of Marcus & Millichap in the 2nd quarter valued at about $137,000. Finally, Strs Ohio purchased a new position in shares of Marcus & Millichap in the 1st quarter valued at about $145,000. Institutional investors and hedge funds own 62.78% of the company’s stock.

About Marcus & Millichap

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.