Marcus & Millichap, Inc. (NYSE:MMI) Sees Significant Growth in Short Interest

Marcus & Millichap, Inc. (NYSE:MMI) saw a significant increase in short interest in January. As of January 15th, there was short interest totaling 492,746 shares, an increase of 28.0% from the December 31st total of 385,004 shares. Based on an average daily trading volume, of 297,945 shares, the days-to-cover ratio is presently 1.7 days. Approximately 2.1% of the shares of the stock are short sold. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 297,945 shares, the days-to-cover ratio is presently 1.7 days.

Institutional Trading of Marcus & Millichap

Institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in Marcus & Millichap by 42.8% during the 1st quarter. AQR Capital Management LLC now owns 13,702 shares of the real estate investment trust’s stock worth $472,000 after purchasing an additional 4,110 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Marcus & Millichap by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 600 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Marcus & Millichap by 12.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,339 shares of the real estate investment trust’s stock worth $2,664,000 after buying an additional 8,369 shares in the last quarter. Jane Street Group LLC raised its position in Marcus & Millichap by 325.7% in the 1st quarter. Jane Street Group LLC now owns 43,091 shares of the real estate investment trust’s stock valued at $1,484,000 after buying an additional 32,968 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Marcus & Millichap in the 1st quarter valued at approximately $145,000. 62.78% of the stock is owned by institutional investors.

Marcus & Millichap Trading Down 6.4%

Shares of MMI traded down $1.72 on Tuesday, reaching $25.17. 256,402 shares of the company’s stock were exchanged, compared to its average volume of 258,664. The business has a 50 day moving average price of $27.57 and a two-hundred day moving average price of $29.47. Marcus & Millichap has a 12 month low of $24.99 and a 12 month high of $41.94. The stock has a market capitalization of $979.73 million, a P/E ratio of -157.33 and a beta of 1.32.

Marcus & Millichap (NYSE:MMI) last released its earnings results on Friday, November 7th. The real estate investment trust reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.13. The firm had revenue of $193.89 million during the quarter, compared to analyst estimates of $183.10 million. Marcus & Millichap had a negative net margin of 0.89% and a negative return on equity of 0.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MMI. Wells Fargo & Company decreased their price objective on shares of Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating on the stock in a report on Monday. Weiss Ratings reissued a “sell (d+)” rating on shares of Marcus & Millichap in a research note on Monday, December 29th. Finally, Wall Street Zen lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Marcus & Millichap currently has a consensus rating of “Reduce” and a consensus target price of $28.00.

About Marcus & Millichap

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.