Marcus & Millichap (NYSE:MMI) Hits New 1-Year Low – Here’s What Happened

by · The Cerbat Gem

Marcus & Millichap, Inc. (NYSE:MMI – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $27.33 and last traded at $27.3550, with a volume of 139359 shares traded. The stock had previously closed at $28.10.

Wall Street Analyst Weigh In

MMI has been the subject of several research analyst reports. Wall Street Zen lowered Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Marcus & Millichap in a report on Monday. Finally, Wells Fargo & Company decreased their target price on shares of Marcus & Millichap from $30.00 to $29.00 and set an “underweight” rating for the company in a research report on Friday, October 24th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $29.00.

Check Out Our Latest Research Report on MMI

Marcus & Millichap Price Performance

The firm has a market capitalization of $1.07 billion, a P/E ratio of -171.12 and a beta of 1.32. The firm’s 50 day moving average is $29.21 and its two-hundred day moving average is $30.36.

Marcus & Millichap (NYSE:MMI – Get Free Report) last announced its quarterly earnings results on Friday, November 7th. The real estate investment trust reported $0.09 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $193.89 million during the quarter, compared to analysts’ expectations of $183.10 million.

Institutional Trading of Marcus & Millichap

Hedge funds have recently made changes to their positions in the business. CWM LLC increased its holdings in shares of Marcus & Millichap by 299.6% during the 3rd quarter. CWM LLC now owns 3,261 shares of the real estate investment trust’s stock worth $96,000 after acquiring an additional 2,445 shares during the last quarter. AlphaQuest LLC boosted its position in Marcus & Millichap by 410.6% during the first quarter. AlphaQuest LLC now owns 2,931 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 2,357 shares during the period. LRI Investments LLC increased its holdings in shares of Marcus & Millichap by 316.2% in the third quarter. LRI Investments LLC now owns 3,484 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 2,647 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Marcus & Millichap in the second quarter valued at about $137,000. Finally, Strs Ohio acquired a new stake in shares of Marcus & Millichap during the 1st quarter worth about $145,000. 62.78% of the stock is owned by institutional investors and hedge funds.

Marcus & Millichap Company Profile

(Get Free Report)

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.

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