Marcus & Millichap (NYSE:MMI) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Marcus & Millichap, Inc. (NYSE:MMI) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.72 and traded as high as $31.27. Marcus & Millichap shares last traded at $30.8710, with a volume of 116,704 shares changing hands.

Wall Street Analysts Forecast Growth

MMI has been the topic of several analyst 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 raised Marcus & Millichap from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell” and a consensus target price of $28.00.

Marcus & Millichap Price Performance

The company’s 50-day moving average price is $29.71 and its 200-day moving average price is $27.72. The company has a market cap of $1.17 billion, a P/E ratio of -3,084.02 and a beta of 1.23.

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, meeting the consensus estimate of ($0.08). The business had revenue of $171.47 million for the quarter, compared to analysts’ expectations of $162.20 million. Marcus & Millichap had a negative net margin of 0.08% and a positive return on equity of 0.43%. The firm’s revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.11) EPS.

Institutional Trading of Marcus & Millichap

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of Marcus & Millichap by 79.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 57,410 shares of the real estate investment trust’s stock valued at $1,685,000 after buying an additional 25,441 shares during the last quarter. Tudor Investment Corp ET AL grew its stake in shares of Marcus & Millichap by 35.7% in the third quarter. Tudor Investment Corp ET AL now owns 90,830 shares of the real estate investment trust’s stock valued at $2,666,000 after buying an additional 23,885 shares in the last quarter. Deprince Race & Zollo Inc. increased its holdings in Marcus & Millichap by 13.5% during the fourth quarter. Deprince Race & Zollo Inc. now owns 264,518 shares of the real estate investment trust’s stock worth $7,219,000 after buying an additional 31,380 shares during the last quarter. Vanguard Group Inc. increased its holdings in Marcus & Millichap by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 3,816,951 shares of the real estate investment trust’s stock worth $104,165,000 after buying an additional 86,609 shares during the last quarter. Finally, AlphaQuest LLC raised its position in Marcus & Millichap by 301.4% during the fourth quarter. AlphaQuest LLC now owns 46,764 shares of the real estate investment trust’s stock worth $1,276,000 after acquiring an additional 35,115 shares in the last quarter. 62.78% of the stock is currently owned by institutional investors.

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.