Marcus & Millichap Inc (MMI) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.45 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.39. The company posted revenue of $183.38 million in the period, compared to analysts expectations of $173.47 million. The company’s revenue was up 5.7% compared to the same quarter last year.
Marcus & Millichap Inc closed down -0.51 points or -1.91% at $26.2 with 50,499 shares getting traded on Tusday. Post opening the session at $26.65, the shares hit an intraday low of $26.06 and an intraday high of $26.84 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jul 14, 2016, William E. Hughes (SVP Marcus & Millichap Capital) sold 13,300 shares at $27.56 per share price. According to the SEC, on Jun 15, 2016, Hessam Nadji (Chief Executive Officer) sold 22,022 shares at $26.16 per share price. On May 16, 2016, Gene A. Berman (Executive Vice President) sold 306 shares at $25.00 per share price, according to the Form-4 filing with the securities and exchange commission.
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 developers lenders owners and investors. It also offers two services to its clients: commercial real estate investment brokerage and financing. The Company divides the commercial real estate market into three segments by investment: Private client segment which include properties with prices under $10 million; Hybrid segment which include properties with prices equal to or over $10 million and less than $20 million and Institutional segment which include properties with prices of $20 million and above. As of December 31 2014 the Company had nearly 1500 investment sales and financing professionals in 78 offices in the United States and Canada that provide investment brokerage and financing services to sellers and buyers of commercial real estate.