Marcus & Millichap (NYSE:MMI) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Marcus & Millichap shares moved above their 200-day moving average, trading as high as $31.22 and recently around $30.82, while the 200-day average sits at $27.88. The stock was still down about 1.2% on the day.
• Analyst sentiment remains bearish, with Weiss Ratings and Wall Street Zen both lowering their views, leaving the stock with an average rating of “Sell” and a consensus price target of $28.00.
• Recent earnings showed improved revenue but continued profitability pressure: the company met EPS expectations at -$0.08 and reported $171.47 million in revenue, up 18.3% year over year and above estimates.

Shares of Marcus & Millichap, Inc. (NYSE:MMI - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $27.88 and traded as high as $31.22. Marcus & Millichap shares last traded at $30.8210, with a volume of 93,426 shares trading hands.

Analyst Upgrades and Downgrades

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

Marcus & Millichap Stock Down 1.2%

The business has a 50-day simple moving average of $29.96 and a 200-day simple moving average of $27.88. The company has a market cap of $1.17 billion, a PE ratio of -3,079.02 and a beta of 1.23.

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

Hedge Funds Weigh In On Marcus & Millichap

Large investors have recently bought and sold shares of the business. Kestra Advisory Services LLC acquired a new position in shares of Marcus & Millichap during the 4th quarter worth about $30,000. Caitong International Asset Management Co. Ltd raised its position in shares of Marcus & Millichap by 79,800.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,598 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 1,596 shares in the last quarter. State of Wyoming purchased a new stake in Marcus & Millichap during the first quarter worth approximately $64,000. Quantbot Technologies LP purchased a new stake in Marcus & Millichap during the second quarter worth approximately $137,000. Finally, GAMMA Investing LLC boosted its holdings in Marcus & Millichap by 27.0% in the second quarter. GAMMA Investing LLC now owns 4,634 shares of the real estate investment trust's stock valued at $144,000 after purchasing an additional 984 shares in the last quarter. Hedge funds and other 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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