Marcus & Millichap (NYSE:MMI) Sets New 52-Week Low After Analyst Downgrade

Shares of Marcus & Millichap, Inc. (NYSE:MMI) reached a new 52-week low during trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $29.00 to $28.00. Wells Fargo & Company currently has an underweight rating on the stock. Marcus & Millichap traded as low as $25.09 and last traded at $25.1420, with a volume of 141070 shares changing hands. The stock had previously closed at $26.89.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Marcus & Millichap in a report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Marcus & Millichap presently has an average rating of “Reduce” and an average target price of $28.00.

Institutional Trading of Marcus & Millichap

Several large investors have recently bought and sold shares of the company. Savant Capital LLC grew its holdings in Marcus & Millichap by 5.7% during the 3rd quarter. Savant Capital LLC now owns 9,632 shares of the real estate investment trust’s stock valued at $283,000 after purchasing an additional 519 shares during the last quarter. Hunter Perkins Capital Management LLC boosted its position in shares of Marcus & Millichap by 1.9% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 31,130 shares of the real estate investment trust’s stock valued at $850,000 after buying an additional 580 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Marcus & Millichap by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust’s stock valued at $481,000 after buying an additional 600 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Marcus & Millichap by 4.9% in the third quarter. Illinois Municipal Retirement Fund now owns 12,807 shares of the real estate investment trust’s stock worth $376,000 after buying an additional 601 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Marcus & Millichap by 2.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 34,025 shares of the real estate investment trust’s stock worth $1,045,000 after acquiring an additional 685 shares during the last quarter. 62.78% of the stock is owned by institutional investors.

Marcus & Millichap Stock Performance

The stock has a fifty day moving average of $27.48 and a 200-day moving average of $29.44. The company has a market cap of $992.93 million, a PE ratio of -159.44 and a beta of 1.32.

Marcus & Millichap (NYSE:MMI) last released 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. The business had revenue of $193.89 million for the quarter, compared to analyst estimates of $183.10 million. Marcus & Millichap had a negative return on equity of 0.58% and a negative net margin of 0.89%.

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.