Marcus & Millichap Inc (NYSE:MMI) – Analysts at William Blair lowered their Q1 2017 EPS estimates for Marcus & Millichap in a note issued to investors on Thursday. William Blair analyst B. Dobell now anticipates that the brokerage will earn $0.27 per share for the quarter, down from their prior estimate of $0.38. William Blair currently has a “Market Perform” rating on the stock. William Blair also issued estimates for Marcus & Millichap’s FY2017 earnings at $1.54 EPS, Q1 2018 earnings at $0.32 EPS, Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.46 EPS, Q4 2018 earnings at $0.45 EPS and FY2018 earnings at $1.65 EPS.
A number of other research firms also recently issued reports on MMI. Citigroup Inc initiated coverage on shares of Marcus & Millichap in a research note on Tuesday, December 20th. They issued a “neutral” rating for the company. Zacks Investment Research downgraded shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Tuesday, December 6th. Finally, Wells Fargo & Co restated a “hold” rating and issued a $27.00 price objective on shares of Marcus & Millichap in a report on Thursday, December 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Marcus & Millichap presently has an average rating of “Hold” and a consensus price target of $27.00.
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Marcus & Millichap (NYSE:MMI) opened at 23.40 on Monday. Marcus & Millichap has a 52-week low of $22.93 and a 52-week high of $30.31. The firm’s 50 day moving average is $26.27 and its 200 day moving average is $25.92. The company has a market cap of $890.86 million, a PE ratio of 14.10 and a beta of 1.57.
Marcus & Millichap (NYSE:MMI) last posted its earnings results on Thursday, March 9th. The real estate investment trust reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.02. Marcus & Millichap had a net margin of 9.22% and a return on equity of 31.33%. The firm had revenue of $189.20 million for the quarter, compared to analysts’ expectations of $192.93 million. During the same quarter last year, the firm earned $0.51 EPS. The company’s quarterly revenue was down 6.9% compared to the same quarter last year.
A number of large investors have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in shares of Marcus & Millichap by 5.6% in the third quarter. Wells Fargo & Company MN now owns 5,622 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 300 shares during the period. New Amsterdam Partners LLC NY boosted its stake in shares of Marcus & Millichap by 0.3% in the third quarter. New Amsterdam Partners LLC NY now owns 182,213 shares of the real estate investment trust’s stock worth $4,765,000 after buying an additional 516 shares during the period. State Street Corp boosted its stake in shares of Marcus & Millichap by 1.9% in the fourth quarter. State Street Corp now owns 248,564 shares of the real estate investment trust’s stock worth $6,642,000 after buying an additional 4,604 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Marcus & Millichap during the third quarter worth $131,000. Finally, BlackRock Inc. boosted its stake in shares of Marcus & Millichap by 9.3% in the third quarter. BlackRock Inc. now owns 76,662 shares of the real estate investment trust’s stock worth $2,005,000 after buying an additional 6,538 shares during the period. Institutional investors and hedge funds own 34.26% of the company’s stock.
In other Marcus & Millichap news, SVP William E. Hughes sold 6,541 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $27.99, for a total value of $183,082.59. Following the sale, the senior vice president now owns 40,540 shares in the company, valued at $1,134,714.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Hessam Nadji sold 4,500 shares of the company’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $25.85, for a total transaction of $116,325.00. Following the completion of the sale, the chief executive officer now owns 331,661 shares in the company, valued at approximately $8,573,436.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 578,791 shares of company stock worth $14,275,778. Corporate insiders own 61.80% of the company’s stock.
Marcus & Millichap Company Profile
Marcus & Millichap, Inc is a brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. The Company also offers market research, consulting and advisory services to its clients. It also offers two services to its clients, such as commercial real estate investment brokerage, and financing and ancillary services.
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