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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Weiss Ratings cut Marcus & Millichap from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Two equities research analysts have rated the stock with a Sell rating. Based on data from MarketBeat, the company currently has an average rating of “Sell” and an average target price of $28.00.

Marcus & Millichap Price Performance

The company has a market capitalization of $922.94 million, a P/E ratio of 62.36 and a beta of 1.25. The firm’s 50-day moving average is $28.95 and its 200-day moving average is $28.77.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings data on Friday, November 6th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The business had revenue of $208.37 million for 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 Inflows and Outflows

A number of large investors have recently made changes to their positions in MMI. Ieq Capital LLC lifted its stake in shares of 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 buying an additional 518 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Marcus & Millichap by 362.5% during the third quarter. Global Retirement Partners LLC now owns 1,184 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 928 shares during the period. Hantz Financial Services Inc. raised its holdings in 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 acquiring an additional 520 shares during the period. Royce & Associates LP lifted its position in shares of Marcus & Millichap by 12.7% in the third quarter. Royce & Associates LP now owns 529,744 shares of the real estate investment trust’s stock valued at $15,071,000 after acquiring an additional 59,725 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Marcus & Millichap by 6.1% in 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 acquiring an additional 723 shares in the last quarter. 62.78% of the stock is owned by hedge funds and other 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.