StockNews.com Lowers Marcus & Millichap (NYSE:MMI) to Sell

StockNews.com downgraded shares of Marcus & Millichap (NYSE:MMI) from a hold rating to a sell rating in a research report sent to investors on Friday.

Marcus & Millichap Trading Up 0.3 %

Shares of NYSE MMI opened at $31.52 on Friday. The stock’s 50-day moving average is $32.32 and its 200 day moving average is $35.21. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -31.52 and a beta of 1.10. Marcus & Millichap has a 1-year low of $26.81 and a 1-year high of $44.24.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported ($0.26) earnings per share for the quarter. Marcus & Millichap had a negative return on equity of 5.91% and a negative net margin of 6.16%. The business had revenue of $129.10 million during the quarter.

Insider Transactions at Marcus & Millichap

In other Marcus & Millichap news, insider Gregory A. Laberge sold 1,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $32.68, for a total value of $32,680.00. Following the sale, the insider now owns 6,050 shares of the company’s stock, valued at approximately $197,714. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, COO John David Parker sold 1,835 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $35.29, for a total value of $64,757.15. Following the completion of the transaction, the chief operating officer now owns 13,373 shares of the company’s stock, valued at approximately $471,933.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregory A. Laberge sold 1,000 shares of Marcus & Millichap stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $32.68, for a total value of $32,680.00. Following the sale, the insider now owns 6,050 shares in the company, valued at $197,714. The disclosure for this sale can be found here. Company insiders own 39.20% of the company’s stock.

Hedge Funds Weigh In On Marcus & Millichap

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in Marcus & Millichap by 112.6% during the 4th quarter. Signaturefd LLC now owns 623 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 330 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Marcus & Millichap during the first quarter valued at approximately $85,000. EntryPoint Capital LLC bought a new stake in shares of Marcus & Millichap in the 1st quarter worth approximately $85,000. LRI Investments LLC purchased a new stake in shares of Marcus & Millichap in the 1st quarter worth approximately $143,000. Finally, Scharf Investments LLC purchased a new stake in shares of Marcus & Millichap in the 4th quarter worth approximately $217,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc, an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.