Equities research analysts expect that Marcus & Millichap Inc (NYSE:MMI) will announce sales of $188.00 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Marcus & Millichap’s earnings. Marcus & Millichap posted sales of $189.16 million during the same quarter last year, which suggests a negative year-over-year growth rate of 0.6%. The company is expected to announce its next quarterly earnings report on Thursday, March 8th.
According to Zacks, analysts expect that Marcus & Millichap will report full year sales of $188.00 million for the current financial year. For the next year, analysts anticipate that the business will post sales of $731.80 million per share, with estimates ranging from $724.10 million to $739.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Marcus & Millichap.
A number of equities research analysts recently commented on MMI shares. Zacks Investment Research cut Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Citigroup raised Marcus & Millichap from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 14th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $31.00 price objective (up from $25.00) on shares of Marcus & Millichap in a research note on Wednesday, November 8th. JMP Securities raised Marcus & Millichap from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 24th. Finally, William Blair reaffirmed a “market perform” rating on shares of Marcus & Millichap in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $33.00.
In related news, CFO Martin E. Louie sold 7,800 shares of Marcus & Millichap 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Martin E. Louie sold 13,000 shares of Marcus & Millichap stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $32.00, for a total value of $416,000.00. Following the sale, the chief financial officer now directly owns 62,518 shares of the company’s stock, valued at $2,000,576. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 844,748 shares of company stock valued at $25,891,022. 58.30% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Advisor Group Inc. lifted its holdings in Marcus & Millichap by 98.1% during the fourth quarter. Advisor Group Inc. now owns 3,368 shares of the real estate investment trust’s stock worth $110,000 after acquiring an additional 1,668 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in Marcus & Millichap during the fourth quarter worth about $211,000. US Bancorp DE lifted its holdings in Marcus & Millichap by 198.3% during the fourth quarter. US Bancorp DE now owns 6,484 shares of the real estate investment trust’s stock worth $212,000 after acquiring an additional 4,310 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Marcus & Millichap by 39.5% during the third quarter. Victory Capital Management Inc. now owns 8,407 shares of the real estate investment trust’s stock worth $227,000 after acquiring an additional 2,380 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in Marcus & Millichap during the second quarter worth about $249,000. Hedge funds and other institutional investors own 42.49% of the company’s stock.
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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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