Marcus & Millichap (NYSE:MMI) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• Marcus & Millichap shares rose above their 200-day moving average, reaching $32.24 and last trading near $31.78, compared with the $28.01 long-term average.
• Analyst sentiment remains negative: two analysts rate the stock Sell, while the consensus target price is $28.00—below the current share price. Recent rating changes included downgrades to Sell and Hold.
• The company’s latest quarter showed revenue of $171.47 million, up 18.3% year over year and above estimates, while adjusted earnings matched expectations at a loss of $0.08 per share. Institutional investors own 62.78% of the stock.

Marcus & Millichap, Inc. (NYSE:MMI - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $28.01 and traded as high as $32.24. Marcus & Millichap shares last traded at $31.7790, with a volume of 138,712 shares trading hands.

Analyst Ratings Changes

A number of brokerages recently commented on MMI. Weiss Ratings lowered Marcus & Millichap from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, May 11th. Wall Street Zen lowered Marcus & Millichap from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, Marcus & Millichap has an average rating of "Sell" and an average target price of $28.00.

Marcus & Millichap Stock Performance

The stock's 50 day simple moving average is $30.15 and its 200 day simple moving average is $28.01. The firm has a market cap of $1.20 billion, a P/E ratio of -3,174.73 and a beta of 1.23.

Marcus & Millichap (NYSE:MMI - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.08) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.08). The firm had revenue of $171.47 million for the quarter, compared to analyst estimates of $162.20 million. Marcus & Millichap had a negative net margin of 0.08% and a positive return on equity of 0.43%. The business's quarterly revenue was up 18.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) earnings per share.

Hedge Funds Weigh In On Marcus & Millichap

Large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Marcus & Millichap by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust's stock worth $481,000 after buying an additional 600 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Marcus & Millichap by 8.1% in the third quarter. Intech Investment Management LLC now owns 10,284 shares of the real estate investment trust's stock valued at $302,000 after buying an additional 767 shares during the period. Principal Financial Group Inc. lifted its position in shares of Marcus & Millichap by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 115,747 shares of the real estate investment trust's stock valued at $3,078,000 after buying an additional 789 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Marcus & Millichap by 27.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,634 shares of the real estate investment trust's stock valued at $144,000 after buying an additional 984 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Marcus & Millichap by 8.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,669 shares of the real estate investment trust's stock worth $374,000 after acquiring an additional 1,038 shares during the period. Institutional investors own 62.78% of the company's stock.

Marcus & Millichap Company Profile

Marcus & Millichap NYSE: MMI is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.

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