Marcus & Millichap (NYSE:MMI) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Marcus & Millichap, Inc. (NYSE:MMI) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $28.01 and traded as high as $32.24. Marcus & Millichap shares last traded at $31.7790, with a volume of 138,712 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently weighed in 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, July 12th. Weiss Ratings lowered shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell” and an average price target of $28.00.

Marcus & Millichap Stock Performance

The stock has a 50 day moving average price of $30.22 and a 200 day moving average price of $28.04. The company has a market capitalization of $1.18 billion, a P/E ratio of -3,111.09 and a beta of 1.23.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $171.47 million during the quarter, compared to analyst estimates 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 for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.11) earnings per share.

Institutional Investors Weigh In On Marcus & Millichap

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in Marcus & Millichap by 79.6% in the third quarter. JPMorgan Chase & Co. now owns 57,410 shares of the real estate investment trust’s stock valued at $1,685,000 after purchasing an additional 25,441 shares during the last quarter. Tudor Investment Corp ET AL increased its position in 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 worth $2,666,000 after buying an additional 23,885 shares during the last quarter. Deprince Race & Zollo Inc. increased its position in Marcus & Millichap by 13.5% in 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. raised its stake in shares of Marcus & Millichap by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 3,816,951 shares of the real estate investment trust’s stock valued at $104,165,000 after buying an additional 86,609 shares during the period. Finally, Pzena Investment Management LLC raised its stake in shares of Marcus & Millichap by 227.6% in the first 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 buying an additional 1,398,441 shares during the period. Hedge funds and other 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.