Zacks Investment Research Lowers Marcus & Millichap (MMI) to Hold

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Marcus & Millichap (NYSE:MMI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

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 upgraded Marcus & Millichap from a “hold” rating to a “buy” rating in a research report on Thursday, January 17th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $41.67.

Shares of MMI opened at $39.45 on Thursday. The company has a market capitalization of $1.48 billion, a PE ratio of 24.35, a PEG ratio of 2.94 and a beta of 1.24. The company has a quick ratio of 4.67, a current ratio of 4.67 and a debt-to-equity ratio of 0.02. Marcus & Millichap has a 52 week low of $30.63 and a 52 week high of $41.45.

In related news, major shareholder Phoenix Investments Holdings L sold 34,783 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $37.01, for a total transaction of $1,287,318.83. Following the completion of the transaction, the insider now owns 15,001,989 shares in the company, valued at approximately $555,223,612.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George M. Marcus sold 20,202 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $37.01, for a total value of $747,676.02. Following the transaction, the director now owns 18,021 shares of the company’s stock, valued at approximately $666,957.21. The disclosure for this sale can be found here. Insiders have sold a total of 225,526 shares of company stock valued at $8,348,950 in the last 90 days. Insiders own 50.10% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. James Investment Research Inc. acquired a new position in Marcus & Millichap during the 4th quarter valued at approximately $1,081,000. Campbell & CO Investment Adviser LLC raised its stake in Marcus & Millichap by 54.5% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 11,900 shares of the real estate investment trust’s stock valued at $413,000 after acquiring an additional 4,200 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Marcus & Millichap by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 166,245 shares of the real estate investment trust’s stock valued at $6,485,000 after acquiring an additional 7,987 shares in the last quarter. Stone Ridge Asset Management LLC raised its stake in Marcus & Millichap by 10.8% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 25,752 shares of the real estate investment trust’s stock valued at $894,000 after acquiring an additional 2,500 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Marcus & Millichap by 254.5% during the 3rd quarter. First Trust Advisors LP now owns 47,331 shares of the real estate investment trust’s stock valued at $1,643,000 after acquiring an additional 33,978 shares in the last quarter. Institutional investors and hedge funds own 53.49% of the company’s stock.

About Marcus & Millichap

Marcus & Millichap, Inc, a brokerage firm, provides 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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