Marcus & Millichap (NYSE:MMI) Sets New 52-Week Low – Should You Sell?

Marcus & Millichap, Inc. (NYSE:MMI) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $27.33 and last traded at $27.3550, with a volume of 139359 shares changing hands. The stock had previously closed at $28.10.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MMI. Wall Street Zen upgraded shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marcus & Millichap in a report on Monday, December 15th. Finally, Wells Fargo & Company cut 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 note on Friday, October 24th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $29.00.

Marcus & Millichap Stock Performance

The company’s 50-day moving average is $29.22 and its 200-day moving average is $30.36. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -171.12 and a beta of 1.32.

Marcus & Millichap (NYSE:MMI) last announced its earnings results on Friday, November 7th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping 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 company had revenue of $193.89 million during the quarter, compared to the consensus estimate of $183.10 million.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. CWM LLC increased its stake in shares of Marcus & Millichap by 299.6% in the 3rd quarter. CWM LLC now owns 3,261 shares of the real estate investment trust’s stock valued at $96,000 after buying an additional 2,445 shares during the period. AlphaQuest LLC increased its position in Marcus & Millichap by 410.6% in 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 raised its holdings in Marcus & Millichap by 316.2% during the 3rd quarter. LRI Investments LLC now owns 3,484 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 2,647 shares during the last quarter. Quantbot Technologies LP acquired a new position in Marcus & Millichap during the 2nd quarter valued at about $137,000. Finally, Strs Ohio bought a new position in shares of Marcus & Millichap in the 1st quarter valued at about $145,000. 62.78% of the stock is currently owned by institutional investors.

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.