Marcus & Millichap (NYSE:MMI) Shares Gap Down – What’s Next?

Marcus & Millichap, Inc. (NYSE:MMI)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $26.89, but opened at $25.14. Marcus & Millichap shares last traded at $25.1150, with a volume of 6,311 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Wells Fargo & Company cut their target price on Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating for the company in a research report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marcus & Millichap in a report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Marcus & Millichap has an average rating of “Reduce” and an average price target of $28.00.

Marcus & Millichap Stock Up 1.3%

The firm has a market cap of $989.93 million, a P/E ratio of -159.16 and a beta of 1.32. The business has a fifty day moving average of $27.57 and a 200 day moving average of $29.47.

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

Institutional Investors Weigh In On Marcus & Millichap

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

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.