BlackRock Fund Advisors recently announced the acquisition of new stake in Marcus & Millichap Inc. (NYSE:MMI). The institutional investor has increased its shareholding in the Real Estate company by 1.88% to 4.31 million shares with purchase of 79573.0 shares. This fresh investment now brings its stake to 10.95% valued currently at $148.56 million. In addition, The Vanguard Group, Inc. raised its holdings by 14326.0 to 3.98 million shares. And Royce & Associates LP has lifted its position by 29.83% or 0.47 million shares – to 2.06 million shares.
With over 91324.0 Marcus & Millichap Inc. (MMI) shares trading Tuesday and a closing price of $37.75 on the day, the dollar volume was approximately $3.45 million. The shares have shown a negative half year performance of -1.64% and its price on 01/24/23 lost nearly -1.56%. Currently, there are 40.09M common shares owned by the public and among those 38.03M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for MMI have a consensus price objective of $26.00. The analysts have set the share’s price value over the next 12 months at a high of $26.00 and a low of $26.00. The average price target is -45.19% below its recent price level and a downside to the estimated low will see the stock lose -45.19% over that period. But a downside of -45.19% will see the stock hit the forecast high price target while median target price for the stock is $26.00.
Insiders at the company have transacted a total of 85 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 38 of these insider trades were purchases, accounting for 104,976 shares. Insider sales of the common stock occurred on 47 occasions, with total insider shares sold totaling 110,330 shares.
The top 3 mutual fund holders in Marcus & Millichap Inc. are iShares Core S&P Small Cap ETF, Vanguard Real Estate Index Fund, and Royce Small-Cap Special Equity Fu. iShares Core S&P Small Cap ETF owns 1.83 million shares of the company’s stock, all valued at over $63.2 million. The company sold 1392.0 shares recently to bring their total holdings to about 4.66% of the shares outstanding. Vanguard Real Estate Index Fund sold 12729.0 shares to see its total holdings shrink to 1.16 million shares valued at over $39.96 million and representing 2.95% of the shares outstanding. Royce Small-Cap Special Equity Fu bought 63500.0 shares to bring its total holdings to over 0.88 million shares at a value of $30.23 million. Royce Small-Cap Special Equity Fu now owns shares totaling to 2.23% of the shares outstanding.
Shares of Marcus & Millichap Inc. (NYSE: MMI) opened at $38.00, down -$0.35 from a prior closing price of $38.35. However, the script later moved the day high at 38.62, down -1.56%. The company’s stock has a 5-day price change of 0.59% and 6.97% over the past three months. MMI shares are trading 9.58% year to date (YTD), with the 12-month market performance down to -17.07% lower. It has a 12-month low price of $31.11 and touched a high of $58.33 over the same period. MMI has an average intraday trading volume of 142.55K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.35%, 4.53%, and -1.93% respectively.
Institutional ownership of Marcus & Millichap Inc. (NYSE: MMI) 40.09M shares outstanding. Mutual fund holders own 45.12%, while other institutional holders and individual stakeholders account for 47.72% and 17.93% respectively.
It has a market capitalization of $1.47B and a beta (3y monthly) value of 1.03. The stock’s trailing 12-month PE ratio is 9.62, while the earnings-per-share (ttm) stands at $3.92. The company has a PEG of 1.60 and a Quick Ratio of 3.50 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.62% over the week and 2.25% over the month.
Analysts forecast that Marcus & Millichap Inc. (MMI) will achieve an EPS of $0.55 for the current quarter, $0.81 for the next quarter and $3.88 for 2023. The lowest estimate earnings-per-share for the quarter is $0.55 while analysts give the company a high EPS estimate of $0.55. Comparatively, EPS for the current quarter was $0.84 a year ago. Earnings per share for the fiscal year are expected to increase by 228.90%, and 20.50% over the next financial year. EPS should shrink at an annualized rate of 6.00% over the next five years, compared to 16.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Marcus & Millichap Inc. (MMI) as a “Moderate Sell” at a consensus score of 4.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the MMI, a number of firms have released research notes about the stock. Wells Fargo stated their Underweight rating for the stock in a research note on April 09, 2020, with the firm’s price target at $39-$23. Goldman on their part issued Neutral rating on November 10, 2015.
