Marcus & Millichap (NYSE:MMI) Reaches New 12-Month Low - Here's Why

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

Marcus & Millichap Price Performance

The business has a 50-day simple moving average of $31.44 and a two-hundred day simple moving average of $35.98. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -87.96 and a beta of 1.24.

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

Insider Transactions at Marcus & Millichap

In related news, insider Gregory A. Laberge sold 828 shares of Marcus & Millichap stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $38.26, for a total transaction of $31,679.28. Following the transaction, the insider now owns 5,222 shares of the company's stock, valued at $199,793.72. The trade was a 13.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 39.20% of the company's stock.

Hedge Funds Weigh In On Marcus & Millichap

A number of large investors have recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Marcus & Millichap by 104.7% during the 3rd quarter. Barclays PLC now owns 60,379 shares of the real estate investment trust's stock worth $2,393,000 after acquiring an additional 30,884 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Marcus & Millichap by 28.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 30,108 shares of the real estate investment trust's stock worth $1,152,000 after acquiring an additional 6,687 shares during the last quarter. R Squared Ltd bought a new stake in Marcus & Millichap in the fourth quarter valued at approximately $66,000. Jennison Associates LLC boosted its position in Marcus & Millichap by 21.1% during the 4th quarter. Jennison Associates LLC now owns 264,435 shares of the real estate investment trust's stock valued at $10,117,000 after buying an additional 46,154 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Marcus & Millichap by 2.5% during the fourth quarter. Rhumbline Advisers now owns 73,033 shares of the real estate investment trust's stock worth $2,794,000 after purchasing an additional 1,805 shares during the period. 62.78% of the stock is currently owned by institutional investors.

Marcus & Millichap Company Profile

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.