Marcus & Millichap (NYSE:MMI) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Marcus & Millichap, Inc. (NYSE:MMI)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $27.46 and traded as high as $29.56. Marcus & Millichap shares last traded at $28.81, with a volume of 270,075 shares.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MMI. Wall Street Zen lowered Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings downgraded Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Sell” and a consensus price target of $28.00.

Marcus & Millichap Price Performance

The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -2,878.12 and a beta of 1.25. The stock’s 50 day simple moving average is $28.81 and its 200-day simple moving average is $27.46.

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

Institutional Investors Weigh In On Marcus & Millichap

A number of large investors have recently bought and sold shares of MMI. JPMorgan Chase & Co. lifted its position in shares of Marcus & Millichap by 79.6% in the third quarter. JPMorgan Chase & Co. now owns 57,410 shares of the real estate investment trust’s stock worth $1,685,000 after buying an additional 25,441 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in shares of Marcus & Millichap by 35.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 90,830 shares of the real estate investment trust’s stock valued at $2,666,000 after acquiring an additional 23,885 shares during the last quarter. Deprince Race & Zollo Inc. increased its holdings in shares of Marcus & Millichap by 13.5% during the 4th quarter. Deprince Race & Zollo Inc. now owns 264,518 shares of the real estate investment trust’s stock valued at $7,219,000 after acquiring an additional 31,380 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Marcus & Millichap by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 3,816,951 shares of the real estate investment trust’s stock valued at $104,165,000 after acquiring an additional 86,609 shares in the last quarter. Finally, AlphaQuest LLC raised its stake in shares of Marcus & Millichap by 301.4% in the 4th quarter. AlphaQuest LLC now owns 46,764 shares of the real estate investment trust’s stock valued at $1,276,000 after acquiring an additional 35,115 shares in the last quarter. 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.