Marcus & Millichap (NYSE:MMI) Receives Sell (D) Rating from Weiss Ratings

Key Points

• Weiss Ratings reaffirmed a "sell (D)" rating for Marcus & Millichap (NYSE:MMI), citing negative market sentiment surrounding the stock.
• Marcus & Millichap reported a quarterly loss of ($0.28) EPS, which was significantly below analysts' expectations of ($0.04).
• In recent trading, MMI shares opened at $28.24, and the stock has fluctuated between a one-year low of $27.55 and a high of $42.80.

Marcus & Millichap (NYSE:MMI - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

MMI has been the subject of several other reports. Wall Street Zen cut shares of Marcus & Millichap from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Citizens Jmp started coverage on shares of Marcus & Millichap in a research report on Monday, July 21st. They set a "market perform" rating on the stock. Finally, JMP Securities started coverage on shares of Marcus & Millichap in a research report on Monday, July 21st. They set a "market perform" rating on the stock. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce".

Marcus & Millichap Trading Up 0.6%

MMI stock opened at $28.24 on Wednesday. Marcus & Millichap has a one year low of $27.55 and a one year high of $42.80. The firm has a market capitalization of $1.10 billion, a PE ratio of -91.09 and a beta of 1.28. The firm has a 50-day moving average of $31.03 and a two-hundred day moving average of $30.98.

Marcus & Millichap (NYSE:MMI - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.24). Marcus & Millichap had a negative net margin of 1.69% and a negative return on equity of 1.99%. The firm had revenue of $172.28 million for the quarter, compared to analysts' expectations of $172.60 million.

Hedge Funds Weigh In On Marcus & Millichap

Several large investors have recently bought and sold shares of MMI. Hotchkis & Wiley Capital Management LLC acquired a new position in Marcus & Millichap during the 1st quarter valued at $6,045,000. Envestnet Asset Management Inc. raised its stake in Marcus & Millichap by 76.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 209,908 shares of the real estate investment trust's stock valued at $6,446,000 after purchasing an additional 90,737 shares during the last quarter. Nuveen LLC acquired a new position in Marcus & Millichap during the 1st quarter valued at $2,570,000. Tributary Capital Management LLC raised its stake in Marcus & Millichap by 10.2% during the 2nd quarter. Tributary Capital Management LLC now owns 695,817 shares of the real estate investment trust's stock valued at $21,369,000 after purchasing an additional 64,392 shares during the last quarter. Finally, Reinhart Partners LLC. raised its stake in Marcus & Millichap by 2.4% during the 2nd quarter. Reinhart Partners LLC. now owns 2,214,779 shares of the real estate investment trust's stock valued at $68,016,000 after purchasing an additional 51,844 shares during the last quarter. 62.78% of the stock is currently owned by institutional investors and hedge funds.

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.

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