Marcus & Millichap, Inc. (MMI) Upgraded to “Buy” at Zacks Investment Research

Marcus & Millichap, Inc. (NYSE:MMI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $35.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.90% from the stock’s previous close.

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. “

Other equities analysts also recently issued research reports about the company. Citigroup Inc. upgraded Marcus & Millichap from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 14th. BidaskClub downgraded Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $31.00 target price (up previously from $25.00) on shares of Marcus & Millichap in a research report on Wednesday, November 8th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $33.00.

Marcus & Millichap (NYSE:MMI) opened at $31.00 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.62 and a quick ratio of 4.62. Marcus & Millichap has a 52-week low of $23.22 and a 52-week high of $31.37. The stock has a market capitalization of $1,180.00, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 3.35 and a beta of 1.55.

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In other news, Director George M. Marcus sold 188,826 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $30.52, for a total transaction of $5,762,969.52. Following the completion of the sale, the director now owns 15,879 shares in the company, valued at $484,627.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Phoenix Investments Holdings L sold 569,087 shares of Marcus & Millichap stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $30.63, for a total value of $17,431,134.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,647,072 shares of company stock valued at $50,199,587. 58.30% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP acquired a new stake in shares of Marcus & Millichap during the third quarter worth $636,000. Envestnet Asset Management Inc. grew its stake in shares of Marcus & Millichap by 28.2% during the third quarter. Envestnet Asset Management Inc. now owns 15,934 shares of the real estate investment trust’s stock worth $429,000 after purchasing an additional 3,502 shares during the period. OxFORD Asset Management LLP grew its stake in shares of Marcus & Millichap by 18.0% during the third quarter. OxFORD Asset Management LLP now owns 89,001 shares of the real estate investment trust’s stock worth $2,392,000 after purchasing an additional 13,572 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Marcus & Millichap by 12.1% during the third quarter. Dimensional Fund Advisors LP now owns 873,709 shares of the real estate investment trust’s stock worth $23,581,000 after purchasing an additional 94,285 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Marcus & Millichap by 5.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 54,008 shares of the real estate investment trust’s stock worth $1,458,000 after purchasing an additional 2,629 shares during the period. 42.74% of the stock is owned by institutional investors and hedge funds.

About Marcus & Millichap

Marcus & Millichap, Inc is a brokerage company specializing in commercial real estate investment sales, financing, research and advisory services. The Company offers three primary services to its clients: commercial real estate investment brokerage, financing, and ancillary services, including other research, advisory and consulting services.

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