Marcus & Millichap (NYSE:MMI) Stock Passes Above 200 Day Moving Average – Here’s Why

Marcus & Millichap, Inc. (NYSE:MMI)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.72 and traded as high as $31.27. Marcus & Millichap shares last traded at $30.8710, with a volume of 116,704 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MMI shares. Wall Street Zen upgraded Marcus & Millichap from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Weiss Ratings lowered shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Marcus & Millichap presently has a consensus rating of “Sell” and an average price target of $28.00.

Marcus & Millichap Trading Down 0.5%

The company’s 50-day simple moving average is $29.77 and its 200 day simple moving average is $27.74. The stock has a market cap of $1.16 billion, a P/E ratio of -3,070.43 and a beta of 1.23.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in shares of Marcus & Millichap by 79.6% in the 3rd 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 grew its position in Marcus & Millichap by 35.7% during the third 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 buying an additional 23,885 shares during the period. Deprince Race & Zollo Inc. increased its holdings in Marcus & Millichap by 13.5% during the fourth quarter. Deprince Race & Zollo Inc. now owns 264,518 shares of the real estate investment trust’s stock worth $7,219,000 after buying an additional 31,380 shares during the last quarter. Vanguard Group Inc. increased its holdings in Marcus & Millichap by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 3,816,951 shares of the real estate investment trust’s stock worth $104,165,000 after buying an additional 86,609 shares during the last quarter. Finally, AlphaQuest LLC raised its position in Marcus & Millichap by 301.4% in the fourth quarter. AlphaQuest LLC now owns 46,764 shares of the real estate investment trust’s stock worth $1,276,000 after acquiring an additional 35,115 shares during the period. Institutional investors own 62.78% of the company’s stock.

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.