Marcus & Millichap (NYSE:MMI) Shares Gap Down – What’s Next?

Shares of Marcus & Millichap, Inc. (NYSE:MMI) gapped down prior to trading on Wednesday . The stock had previously closed at $26.89, but opened at $25.14. Marcus & Millichap shares last traded at $25.1150, with a volume of 6,311 shares trading hands.

Analyst Ratings Changes

Several research firms have issued reports on MMI. Wall Street Zen lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marcus & Millichap in a report on Monday, December 29th. Finally, Wells Fargo & Company cut their target price on shares of Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Marcus & Millichap presently has a consensus rating of “Reduce” and a consensus target price of $28.00.

Marcus & Millichap Stock Performance

The stock has a market capitalization of $989.93 million, a price-to-earnings ratio of -159.16 and a beta of 1.32. The business has a fifty day simple moving average of $27.57 and a 200 day simple moving average of $29.47.

Marcus & Millichap (NYSE:MMI) last announced its earnings results on Friday, November 7th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.13. Marcus & Millichap had a negative net margin of 0.89% and a negative return on equity of 0.58%. The company had revenue of $193.89 million during the quarter, compared to analysts’ expectations of $183.10 million.

Institutional Trading of Marcus & Millichap

Several large investors have recently modified their holdings of MMI. New York State Teachers Retirement System raised its stake in Marcus & Millichap by 10.9% in the fourth quarter. New York State Teachers Retirement System now owns 23,728 shares of the real estate investment trust’s stock valued at $648,000 after purchasing an additional 2,326 shares in the last quarter. Vanguard Group Inc. increased its holdings in Marcus & Millichap by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 3,816,951 shares of the real estate investment trust’s stock valued at $104,165,000 after buying an additional 86,609 shares during the period. Deprince Race & Zollo Inc. raised its position in shares of Marcus & Millichap by 13.5% in the 4th quarter. Deprince Race & Zollo Inc. now owns 264,518 shares of the real estate investment trust’s stock valued at $7,219,000 after buying an additional 31,380 shares in the last quarter. Hunter Perkins Capital Management LLC raised its position in shares of Marcus & Millichap by 1.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 31,130 shares of the real estate investment trust’s stock valued at $850,000 after buying an additional 580 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Marcus & Millichap by 141.1% during the 4th quarter. SG Americas Securities LLC now owns 15,098 shares of the real estate investment trust’s stock worth $412,000 after acquiring an additional 8,835 shares in the last quarter. 62.78% of the stock is owned by institutional investors and hedge funds.

About Marcus & Millichap

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.