Marcus & Millichap (NYSE:MMI) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Marcus & Millichap, Inc. (NYSE:MMI) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-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.

Analysts Set New Price Targets

Several research firms recently commented on MMI. Wall Street Zen downgraded shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. One investment 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, Marcus & Millichap currently has an average rating of “Sell” and an average price target of $28.00.

Marcus & Millichap Trading Up 0.6%

The firm has a market cap of $1.14 billion, a P/E ratio of -3,006.49 and a beta of 1.25. The business’s fifty day simple moving average is $28.04 and its 200-day simple moving average is $27.42.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). The business had revenue of $171.47 million for 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 company’s revenue was up 18.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.11) EPS.

Insider Buying and Selling at Marcus & Millichap

In other news, CEO Hessam Nadji sold 1,300 shares of Marcus & Millichap stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $25.60, for a total transaction of $33,280.00. Following the sale, the chief executive officer owned 480 shares of the company’s stock, valued at approximately $12,288. The trade was 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.

Institutional Investors Weigh In On Marcus & Millichap

Large investors have recently modified their holdings of the stock. Kestra Advisory Services LLC bought a new stake in shares of Marcus & Millichap during the 4th quarter valued at about $30,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Marcus & Millichap by 79,800.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,598 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,596 shares in the last quarter. State of Wyoming purchased a new position in Marcus & Millichap during the 1st quarter valued at about $64,000. Strs Ohio purchased a new position in Marcus & Millichap during the 1st quarter valued at about $145,000. Finally, Quantbot Technologies LP purchased a new position in Marcus & Millichap during the 2nd quarter valued at about $137,000. 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.