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

Marcus & Millichap, Inc. (NYSE:MMI) shares crossed 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

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

Marcus & Millichap Stock Performance

The stock has a market cap of $1.13 billion, a P/E ratio of -2,974.53 and a beta of 1.25. The stock has a 50-day moving average price of $28.88 and a 200-day moving average price of $27.46.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($0.08) EPS 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 analysts’ expectations of $162.20 million. During the same quarter in the previous year, the company earned ($0.11) EPS. The business’s quarterly revenue was up 18.3% compared to the same quarter last year.

Institutional Investors Weigh In On Marcus & Millichap

A number of institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its holdings in Marcus & Millichap by 42.8% during the 1st quarter. AQR Capital Management LLC now owns 13,702 shares of the real estate investment trust’s stock valued at $472,000 after acquiring an additional 4,110 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Marcus & Millichap by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 600 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Marcus & Millichap by 12.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,339 shares of the real estate investment trust’s stock valued at $2,664,000 after purchasing an additional 8,369 shares during the period. Jane Street Group LLC increased its position in shares of Marcus & Millichap by 325.7% during the first quarter. Jane Street Group LLC now owns 43,091 shares of the real estate investment trust’s stock valued at $1,484,000 after buying an additional 32,968 shares during the period. Finally, Strs Ohio purchased a new position in shares of Marcus & Millichap during the 1st quarter worth approximately $145,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

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.