Marcus & Millichap (NYSE:MMI) Stock Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Marcus & Millichap shares moved above their 200-day moving average, trading as high as $31.27 and last changing hands at about $30.87.
• Analyst sentiment remains weak overall, with a consensus rating of Sell and an average price target of $28.00, though one recent note upgraded the stock to Buy.
• The company recently reported Q1 earnings of -$0.08 per share, matching expectations, while revenue rose 18.3% year over year to $171.47 million.

Marcus & Millichap, Inc. (NYSE:MMI - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $27.72 and traded as high as $31.27. Marcus & Millichap shares last traded at $30.8710, with a volume of 116,704 shares.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Marcus & Millichap from a "hold" rating to a "buy" rating in a research note on Saturday, June 27th. Weiss Ratings cut Marcus & Millichap from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, May 11th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Marcus & Millichap has an average rating of "Sell" and a consensus target price of $28.00.

Marcus & Millichap Stock Down 0.4%

The stock's 50-day moving average price is $29.71 and its 200-day moving average price is $27.72. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -3,084.02 and a beta of 1.23.

Marcus & Millichap (NYSE:MMI - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The firm had revenue of $171.47 million during the quarter, compared to analysts' expectations of $162.20 million. Marcus & Millichap had a negative net margin of 0.08% and a positive return on equity of 0.43%. Marcus & Millichap's revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.11) EPS.

Hedge Funds Weigh In On Marcus & Millichap

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Marcus & Millichap by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 3,816,951 shares of the real estate investment trust's stock worth $104,165,000 after buying an additional 86,609 shares during the last quarter. Pzena Investment Management LLC grew its holdings in Marcus & Millichap by 227.6% during the 1st quarter. Pzena Investment Management LLC now owns 2,012,763 shares of the real estate investment trust's stock worth $53,519,000 after acquiring an additional 1,398,441 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Marcus & Millichap by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,481,772 shares of the real estate investment trust's stock valued at $39,400,000 after acquiring an additional 43,196 shares during the last quarter. State Street Corp raised its position in shares of Marcus & Millichap by 3.0% during the 4th quarter. State Street Corp now owns 951,032 shares of the real estate investment trust's stock valued at $25,954,000 after acquiring an additional 27,275 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Marcus & Millichap by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 385,116 shares of the real estate investment trust's stock valued at $10,510,000 after purchasing an additional 3,547 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.