Marcus & Millichap (NYSE:MMI) PT Raised to $30.00

Marcus & Millichap (NYSE:MMI) had its price objective lifted by investment analysts at Wells Fargo & Company from $20.00 to $30.00 in a report issued on Friday, Benzinga reports. The firm currently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 20.61% from the company’s previous close.

Separately, StockNews.com raised Marcus & Millichap from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th.

Marcus & Millichap Trading Down 1.5 %

MMI opened at $37.79 on Friday. The company has a market cap of $1.46 billion, a P/E ratio of -37.79 and a beta of 1.13. The company’s 50 day moving average is $37.08 and its 200-day moving average is $34.41. Marcus & Millichap has a 1-year low of $26.81 and a 1-year high of $44.24.

Marcus & Millichap (NYSE:MMI) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The firm had revenue of $158.37 million for the quarter. Marcus & Millichap had a negative net margin of 5.68% and a negative return on equity of 5.50%.

Insider Activity

In related news, CEO Hessam Nadji sold 659 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $40.33, for a total value of $26,577.47. Following the sale, the chief executive officer now owns 209,123 shares of the company’s stock, valued at $8,433,930.59. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 29,700 shares of company stock valued at $1,119,675. Insiders own 39.20% of the company’s stock.

Institutional Trading of Marcus & Millichap

Several institutional investors have recently added to or reduced their stakes in MMI. Allspring Global Investments Holdings LLC acquired a new position in shares of Marcus & Millichap in the 1st quarter worth approximately $85,000. EntryPoint Capital LLC bought a new stake in Marcus & Millichap during the first quarter valued at $85,000. LRI Investments LLC bought a new stake in Marcus & Millichap during the first quarter valued at $143,000. Scharf Investments LLC grew its holdings in Marcus & Millichap by 18.8% during the 1st quarter. Scharf Investments LLC now owns 5,905 shares of the real estate investment trust’s stock worth $202,000 after acquiring an additional 933 shares during the period. Finally, Heritage Family Offices LLP bought a new position in shares of Marcus & Millichap in the 2nd quarter worth about $207,000. 62.78% of the stock is currently owned by institutional investors.

About Marcus & Millichap

Marcus & Millichap, Inc, an investment brokerage company, provides real estate 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, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.