Marcus & Millichap (NYSE:MMI) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Marcus & Millichap (NYSE:MMI) from a hold rating to a sell rating in a research note published on Friday morning.

Marcus & Millichap Trading Up 0.3 %

NYSE MMI opened at $31.52 on Friday. Marcus & Millichap has a 1-year low of $26.81 and a 1-year high of $44.24. The company has a 50 day moving average of $32.32 and a 200-day moving average of $35.24. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -31.52 and a beta of 1.10.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported ($0.26) earnings per share (EPS) for the quarter. The firm had revenue of $129.10 million during the quarter. Marcus & Millichap had a negative net margin of 6.16% and a negative return on equity of 5.91%.

Insiders Place Their Bets

In other Marcus & Millichap news, insider Gregory A. Laberge sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $32.68, for a total transaction of $32,680.00. Following the sale, the insider now owns 6,050 shares of the company’s stock, valued at $197,714. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO John David Parker sold 1,835 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $35.29, for a total value of $64,757.15. Following the transaction, the chief operating officer now owns 13,373 shares in the company, valued at $471,933.17. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Gregory A. Laberge sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $32.68, for a total transaction of $32,680.00. Following the completion of the transaction, the insider now owns 6,050 shares in the company, valued at approximately $197,714. The disclosure for this sale can be found here. Insiders own 39.20% of the company’s stock.

Hedge Funds Weigh In On Marcus & Millichap

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC raised its holdings in shares of Marcus & Millichap by 112.6% during the fourth quarter. Signaturefd LLC now owns 623 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 330 shares during the period. Janney Montgomery Scott LLC grew its position in Marcus & Millichap by 3.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 14,700 shares of the real estate investment trust’s stock worth $642,000 after purchasing an additional 496 shares in the last quarter. Pitcairn Co. grew its position in shares of Marcus & Millichap by 4.5% during the 1st quarter. Pitcairn Co. now owns 13,005 shares of the real estate investment trust’s stock valued at $444,000 after acquiring an additional 563 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Marcus & Millichap by 8.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 7,049 shares of the real estate investment trust’s stock valued at $241,000 after acquiring an additional 572 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Marcus & Millichap by 12.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,795 shares of the real estate investment trust’s stock valued at $233,000 after acquiring an additional 767 shares during the period. Institutional investors and hedge funds own 62.78% of the company’s stock.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc, an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.