Marcus & Millichap (NYSE:MMI) Reaches New 1-Year Low - Here's What Happened

Marcus & Millichap, Inc. (NYSE:MMI - Get Free Report)'s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $28.95 and last traded at $29.22, with a volume of 112203 shares changing hands. The stock had previously closed at $29.37.

Marcus & Millichap Stock Performance

The company has a market capitalization of $1.14 billion, a P/E ratio of -91.31 and a beta of 1.24. The firm's fifty day moving average is $31.85 and its 200 day moving average is $36.24.

Marcus & Millichap (NYSE:MMI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.05. The company had revenue of $145.04 million during the quarter, compared to analysts' expectations of $140.20 million. Marcus & Millichap had a negative net margin of 1.78% and a negative return on equity of 1.98%.

Insider Transactions at Marcus & Millichap

In other news, insider Gregory A. Laberge sold 2,915 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $34.78, for a total value of $101,383.70. Following the completion of the sale, the insider now owns 2,307 shares of the company's stock, valued at approximately $80,237.46. This represents a 55.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 39.20% of the company's stock.

Institutional Investors Weigh In On Marcus & Millichap

A number of hedge funds and other institutional investors have recently bought and sold shares of MMI. Reinhart Partners LLC. lifted its position in Marcus & Millichap by 13.3% during the first quarter. Reinhart Partners LLC. now owns 2,162,935 shares of the real estate investment trust's stock valued at $74,513,000 after acquiring an additional 253,444 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in Marcus & Millichap during the first quarter valued at approximately $6,045,000. Nuveen LLC purchased a new stake in Marcus & Millichap during the first quarter valued at approximately $2,570,000. Norges Bank purchased a new stake in Marcus & Millichap during the fourth quarter valued at approximately $2,727,000. Finally, JPMorgan Chase & Co. lifted its position in Marcus & Millichap by 61.5% during the fourth quarter. JPMorgan Chase & Co. now owns 123,089 shares of the real estate investment trust's stock valued at $4,709,000 after acquiring an additional 46,865 shares during the last quarter. Hedge funds and other institutional investors own 62.78% of the company's stock.

About Marcus & Millichap

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.