Marcus & Millichap (NYSE:MMI) Sees Strong Trading Volume – What’s Next?

by · The Markets Daily

Marcus & Millichap, Inc. (NYSE:MMI – Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 429,388 shares traded hands during trading, an increase of 224% from the previous session’s volume of 132,713 shares.The stock last traded at $28.3710 and had previously closed at $28.37.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MMI. Weiss Ratings restated a “sell (d+)” rating on shares of Marcus & Millichap in a report on Monday. Wells Fargo & Company reduced their target price on Marcus & Millichap from $30.00 to $29.00 and set an “underweight” rating for the company in a report on Friday, October 24th. Finally, Wall Street Zen downgraded Marcus & Millichap from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Marcus & Millichap presently has an average rating of “Reduce” and an average price target of $29.00.

View Our Latest Research Report on MMI

Marcus & Millichap Stock Performance

The company’s 50-day moving average price is $29.26 and its 200 day moving average price is $30.39. The stock has a market cap of $1.09 billion, a PE ratio of -175.00 and a beta of 1.32.

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

Institutional Trading of Marcus & Millichap

Several hedge funds have recently bought and sold shares of MMI. Charles Schwab Investment Management Inc. lifted its position in shares of Marcus & Millichap by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 407,137 shares of the real estate investment trust’s stock valued at $14,026,000 after buying an additional 3,577 shares in the last quarter. Nuveen LLC bought a new stake in Marcus & Millichap during the 1st quarter worth approximately $2,570,000. Public Sector Pension Investment Board lifted its holdings in Marcus & Millichap by 26.8% during the first quarter. Public Sector Pension Investment Board now owns 76,291 shares of the real estate investment trust’s stock valued at $2,628,000 after purchasing an additional 16,101 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Marcus & Millichap by 8.2% in the first quarter. Russell Investments Group Ltd. now owns 168,736 shares of the real estate investment trust’s stock worth $5,813,000 after purchasing an additional 12,717 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Marcus & Millichap by 9.8% in the first quarter. American Century Companies Inc. now owns 60,716 shares of the real estate investment trust’s stock worth $2,092,000 after purchasing an additional 5,430 shares in the last quarter. Institutional investors own 62.78% of the company’s stock.

About Marcus & Millichap

(Get Free Report)

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.

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