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

Marcus & Millichap, Inc. (NYSE:MMI) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MMI shares. Weiss Ratings lowered shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Wall Street Zen lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Marcus & Millichap presently has a consensus rating of “Sell” and an average target price of $28.00.

Marcus & Millichap Stock Up 0.6%

The business’s 50 day moving average is $28.04 and its two-hundred day moving average is $27.42. The firm has a market cap of $1.14 billion, a P/E ratio of -3,006.49 and a beta of 1.25.

Marcus & Millichap (NYSE:MMI) last announced its earnings results on Thursday, May 7th. The real estate investment trust reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). Marcus & Millichap had a negative net margin of 0.08% and a positive return on equity of 0.43%. The business had revenue of $171.47 million during the quarter, compared to the consensus estimate of $162.20 million. During the same quarter last year, the firm earned ($0.11) earnings per share. Marcus & Millichap’s quarterly revenue was up 18.3% on a year-over-year basis.

Insiders Place Their Bets

In other Marcus & Millichap news, CEO Hessam Nadji sold 1,300 shares of Marcus & Millichap stock in a transaction on Friday, March 13th. The shares were sold at an average price of $25.60, for a total value of $33,280.00. Following the completion of the sale, the chief executive officer directly owned 480 shares of the company’s stock, valued at approximately $12,288. The trade was a 73.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 39.20% of the company’s stock.

Institutional Investors Weigh In On Marcus & Millichap

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Advisory Services LLC purchased a new position in Marcus & Millichap during the fourth quarter worth about $30,000. Caitong International Asset Management Co. Ltd increased 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 worth $44,000 after purchasing an additional 1,596 shares during the last quarter. State of Wyoming purchased a new stake in shares of Marcus & Millichap during the 1st quarter worth approximately $64,000. Quantbot Technologies LP purchased a new stake in shares of Marcus & Millichap during the 2nd quarter worth approximately $137,000. Finally, Strs Ohio purchased a new stake in shares of Marcus & Millichap during the 1st quarter worth approximately $145,000. 62.78% of the stock is owned by institutional investors.

About Marcus & Millichap

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.