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

Marcus & Millichap, Inc. (NYSE:MMI)’s stock price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $28.75 and traded as high as $29.12. Marcus & Millichap shares last traded at $29.0780, with a volume of 160,072 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on MMI. Weiss Ratings upgraded shares of Marcus & Millichap from a “sell (d)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. Wall Street Zen downgraded shares of Marcus & Millichap from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $28.00.

Marcus & Millichap Stock Up 3.9%

The business has a 50-day moving average price of $29.49 and a two-hundred day moving average price of $28.77. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 79.77 and a beta of 1.25.

Marcus & Millichap (NYSE:MMI) last posted its earnings results on Thursday, August 6th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.07. Marcus & Millichap had a net margin of 1.77% and a return on equity of 2.97%. The firm had revenue of $202.91 million during the quarter, compared to analyst estimates of $194.30 million.

Hedge Funds Weigh In On Marcus & Millichap

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CenterBook Partners LP bought a new stake in shares of Marcus & Millichap in the 3rd quarter valued at approximately $324,000. State of Wyoming raised its stake in shares of Marcus & Millichap by 176.0% during the 3rd quarter. State of Wyoming now owns 6,801 shares of the real estate investment trust’s stock valued at $193,000 after buying an additional 4,337 shares during the last quarter. Inspire Investing LLC increased its holdings in Marcus & Millichap by 3.1% in the third quarter. Inspire Investing LLC now owns 22,455 shares of the real estate investment trust’s stock valued at $639,000 after buying an additional 675 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Marcus & Millichap by 283.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,898 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 5,100 shares in the last quarter. Finally, Commonwealth Financial Services LLC acquired a new stake in Marcus & Millichap during the 3rd quarter worth $290,000. Institutional investors own 62.78% of the company’s stock.

About Marcus & Millichap

Marcus & Millichap, Inc is a commercial real estate brokerage company that specializes in investment sales, financing and advisory services. The company serves owners and investors in a range of property sectors, including multifamily, office, retail, industrial, self-storage, hospitality and land.

Through its brokerage professionals and investment banking platform, Marcus & Millichap helps clients market and acquire commercial properties, arrange financing and evaluate real estate investment opportunities.