Marcus & Millichap (NYSE:MMI) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

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 $27.88 and traded as high as $31.22. Marcus & Millichap shares last traded at $30.8210, with a volume of 93,426 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently commented on MMI. Wall Street Zen lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings downgraded shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell” and an average price target of $28.00.

Marcus & Millichap Stock Down 1.2%

The firm has a 50-day simple moving average of $29.96 and a 200 day simple moving average of $27.88. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -3,079.02 and a beta of 1.23.

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

Institutional Investors Weigh In On Marcus & Millichap

A number of institutional investors and hedge funds have recently made changes to their positions in MMI. Hunter Perkins Capital Management LLC lifted its stake in shares of Marcus & Millichap by 1.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 31,130 shares of the real estate investment trust’s stock worth $850,000 after acquiring an additional 580 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Marcus & Millichap by 4.5% in 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 acquiring an additional 600 shares in the last quarter. Intech Investment Management LLC increased its stake in shares of Marcus & Millichap by 8.1% during the third quarter. Intech Investment Management LLC now owns 10,284 shares of the real estate investment trust’s stock worth $302,000 after acquiring an additional 767 shares during the period. Principal Financial Group Inc. raised its holdings in Marcus & Millichap by 0.7% during the first quarter. Principal Financial Group Inc. now owns 115,747 shares of the real estate investment trust’s stock worth $3,078,000 after purchasing an additional 789 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Marcus & Millichap by 27.0% during the second quarter. GAMMA Investing LLC now owns 4,634 shares of the real estate investment trust’s stock worth $144,000 after purchasing an additional 984 shares in the last quarter. 62.78% of the stock is owned by hedge funds and other 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.