Analysts Set Marcus & Millichap Inc (MMI) Price Target at $38.50

Shares of Marcus & Millichap Inc (NYSE:MMI) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $38.50.

A number of analysts have commented on MMI shares. Wells Fargo set a $37.00 target price on shares of Marcus & Millichap and gave the company a “hold” rating in a report on Wednesday, March 21st. JMP Securities raised shares of Marcus & Millichap from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 24th. ValuEngine raised shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a research note on Saturday, March 10th. Zacks Investment Research cut shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, William Blair reissued a “market perform” rating on shares of Marcus & Millichap in a research note on Thursday, February 1st.

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MMI stock traded down $0.41 during midday trading on Thursday, reaching $35.23. 168,511 shares of the company’s stock traded hands, compared to its average volume of 160,463. Marcus & Millichap has a 52-week low of $23.40 and a 52-week high of $36.70. The stock has a market cap of $1,355.52, a P/E ratio of 21.75, a P/E/G ratio of 3.07 and a beta of 1.31. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 0.02.

Marcus & Millichap (NYSE:MMI) last announced its earnings results on Thursday, March 8th. The real estate investment trust reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.12. Marcus & Millichap had a net margin of 7.16% and a return on equity of 21.35%. The business had revenue of $202.80 million during the quarter, compared to analysts’ expectations of $189.10 million. During the same period in the prior year, the company earned $0.44 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. equities analysts forecast that Marcus & Millichap will post 1.93 earnings per share for the current year.

In other news, SVP William E. Hughes sold 12,255 shares of the stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $36.00, for a total value of $441,180.00. Following the completion of the sale, the senior vice president now directly owns 61,701 shares of the company’s stock, valued at $2,221,236. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Martin E. Louie sold 7,800 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $28.90, for a total transaction of $225,420.00. Following the completion of the sale, the chief financial officer now directly owns 56,966 shares of the company’s stock, valued at $1,646,317.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 679,569 shares of company stock valued at $24,301,869. Corporate insiders own 58.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. OppenheimerFunds Inc. purchased a new stake in shares of Marcus & Millichap in the fourth quarter worth $355,000. Schwab Charles Investment Management Inc. grew its stake in Marcus & Millichap by 105.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 110,811 shares of the real estate investment trust’s stock valued at $3,614,000 after acquiring an additional 56,803 shares in the last quarter. Wells Fargo & Company MN grew its stake in Marcus & Millichap by 94.1% during the third quarter. Wells Fargo & Company MN now owns 91,429 shares of the real estate investment trust’s stock valued at $2,468,000 after acquiring an additional 44,329 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Marcus & Millichap by 104.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 121,289 shares of the real estate investment trust’s stock valued at $3,955,000 after acquiring an additional 61,889 shares in the last quarter. Finally, Schroder Investment Management Group grew its stake in Marcus & Millichap by 108.8% during the fourth quarter. Schroder Investment Management Group now owns 30,095 shares of the real estate investment trust’s stock valued at $981,000 after acquiring an additional 15,683 shares in the last quarter. 44.97% of the stock is owned by hedge funds and other institutional investors.

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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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