Marcus & Millichap (NYSE:MMI) Sets New 12-Month Low - Here's What Happened

Key Points

• Marcus & Millichap shares hit a new 52-week low, trading as low as $24.38, down from the previous close of $24.81.
• Analyst sentiment weakened: Weiss Ratings downgraded the stock to “sell,” and Wall Street Zen cut its rating to “hold.” MarketBeat reports a consensus “Sell” rating and a $28 price target.
• The company’s latest quarterly EPS of $0.03 missed the $0.06 consensus estimate, although revenue of $208.37 million exceeded the $205.05 million forecast.

Marcus & Millichap, Inc. (NYSE:MMI - Get Free Report) hit a new 52-week low during trading on Thursday. The stock traded as low as $24.38 and last traded at $24.3450, with a volume of 82,902 shares traded. The stock had previously closed at $24.81.

Analyst Ratings Changes

MMI has been the topic of a number of research analyst reports. Weiss Ratings downgraded Marcus & Millichap from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday. Wall Street Zen cut Marcus & Millichap from a "buy" rating to a "hold" rating in a research note on Saturday, November 7th. Two equities research analysts have rated the stock with a Sell rating. According to MarketBeat, the company presently has a consensus rating of "Sell" and a consensus price target of $28.00.

Marcus & Millichap Price Performance

The company has a market cap of $922.94 million, a P/E ratio of 62.36 and a beta of 1.25. The company's 50-day moving average is $28.95 and its two-hundred day moving average is $28.77.

Marcus & Millichap (NYSE:MMI - Get Free Report) last released its quarterly earnings data on Friday, November 6th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). The business had revenue of $208.37 million during the quarter, compared to the consensus estimate of $205.05 million. Marcus & Millichap had a net margin of 1.83% and a return on equity of 2.60%.

Institutional Investors Weigh In On Marcus & Millichap

Several large investors have recently bought and sold shares of MMI. Ieq Capital LLC lifted its stake in Marcus & Millichap by 0.9% during the 3rd quarter. Ieq Capital LLC now owns 55,209 shares of the real estate investment trust's stock valued at $1,571,000 after acquiring an additional 518 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of Marcus & Millichap by 40.1% during the third quarter. Hantz Financial Services Inc. now owns 1,816 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 520 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Marcus & Millichap by 50.9% during the third quarter. Farther Finance Advisors LLC now owns 1,728 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 583 shares during the last quarter. Inspire Investing LLC raised its holdings in shares of Marcus & Millichap by 3.1% during the third quarter. Inspire Investing LLC now owns 22,455 shares of the real estate investment trust's stock valued at $639,000 after purchasing an additional 675 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in Marcus & Millichap by 6.1% during the third quarter. Illinois Municipal Retirement Fund now owns 12,535 shares of the real estate investment trust's stock valued at $357,000 after purchasing an additional 723 shares during the period. 62.78% of the stock is currently owned by institutional investors.

Marcus & Millichap Company Profile

Marcus & Millichap is a commercial real estate brokerage specializing in the sale, financing, and advisory of investment properties. Its services include investment sales, debt and equity financing, and research and market analysis for property owners, investors, and other real estate clients. Founded in 1971, the company serves clients across the United States and Canada through a network of offices and investment professionals. Its financing services include arranging loans and other capital for commercial real estate transactions.

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.