Marcus & Millichap (NYSE:MMI) Shares Pass Above 200 Day Moving Average – What’s Next?

Marcus & Millichap, Inc. (NYSE:MMI) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $27.42 and traded as high as $30.35. Marcus & Millichap shares last traded at $30.0950, with a volume of 212,061 shares.

Analyst Ratings Changes

MMI has been the topic of a number of recent research reports. Weiss Ratings lowered Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wall Street Zen lowered Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Sell” and an average target price of $28.00.

Marcus & Millichap Trading Up 0.6%

The stock has a 50 day simple moving average of $28.04 and a 200 day simple moving average of $27.42. The stock has a market cap of $1.14 billion, a P/E ratio of -3,006.49 and a beta of 1.25.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). Marcus & Millichap had a positive return on equity of 0.43% and a negative net margin of 0.08%.The firm had revenue of $171.47 million for the quarter, compared to analyst estimates of $162.20 million. During the same quarter last year, the company earned ($0.11) EPS. The company’s revenue was up 18.3% on a year-over-year basis.

Insider Activity

In other news, CEO Hessam Nadji sold 1,300 shares of Marcus & Millichap stock in a transaction on Friday, March 13th. The stock was sold at an average price of $25.60, for a total value of $33,280.00. Following the transaction, the chief executive officer owned 480 shares in the company, valued at approximately $12,288. This trade represents a 73.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 39.20% of the company’s stock.

Hedge Funds Weigh In On Marcus & Millichap

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Marcus & Millichap by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 3,816,951 shares of the real estate investment trust’s stock valued at $104,165,000 after purchasing an additional 86,609 shares during the last quarter. Pzena Investment Management LLC increased its stake in shares of Marcus & Millichap by 227.6% in the 1st quarter. Pzena Investment Management LLC now owns 2,012,763 shares of the real estate investment trust’s stock valued at $53,519,000 after purchasing an additional 1,398,441 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Marcus & Millichap by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,481,772 shares of the real estate investment trust’s stock valued at $39,400,000 after purchasing an additional 43,196 shares during the last quarter. State Street Corp increased its stake in shares of Marcus & Millichap by 3.0% in the 4th quarter. State Street Corp now owns 951,032 shares of the real estate investment trust’s stock valued at $25,954,000 after purchasing an additional 27,275 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Marcus & Millichap by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 385,116 shares of the real estate investment trust’s stock valued at $10,510,000 after purchasing an additional 3,547 shares during the last quarter. Institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Company Profile

Marcus & Millichap (NYSE: MMI) is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.