Marcus & Millichap (NYSE:MMI) Stock Price Down 6.7% – Here’s What Happened

Marcus & Millichap, Inc. (NYSE:MMI)’s stock price dropped 6.7% during mid-day trading on Tuesday. The stock traded as low as $26.00 and last traded at $25.8850. Approximately 4,487 shares were traded during trading, a decline of 98% from the average daily volume of 215,688 shares. The stock had previously closed at $27.75.

Analyst Ratings Changes

MMI has been the topic of several recent analyst reports. Wall Street Zen cut shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised shares of Marcus & Millichap from a “sell (d)” rating to a “hold (c-)” rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $28.00.

Marcus & Millichap Stock Performance

The firm has a market cap of $966.63 million, a PE ratio of 65.45 and a beta of 1.25. The firm has a fifty day simple moving average of $29.21 and a two-hundred day simple moving average of $28.78.

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 the consensus estimate of $0.06 by ($0.03). The firm had revenue of $208.37 million for the quarter, compared to analysts’ expectations of $205.05 million. Marcus & Millichap had a return on equity of 2.97% and a net margin of 1.77%.

Institutional Investors Weigh In On Marcus & Millichap

Several institutional investors have recently modified their holdings of the stock. Compass Financial Management LLC purchased a new position in shares of Marcus & Millichap during the 2nd quarter worth about $25,000. Allworth Financial LP bought a new stake in shares of Marcus & Millichap in the 2nd quarter valued at about $46,000. Farther Finance Advisors LLC lifted its stake in shares of Marcus & Millichap by 50.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,728 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 583 shares during the last quarter. Hantz Financial Services Inc. lifted its position 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 last quarter. Finally, Fortitude Family Office LLC boosted its holdings in Marcus & Millichap by 21,900.0% in the third quarter. Fortitude Family Office LLC now owns 2,200 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 2,190 shares in the last quarter. 62.78% of the stock is 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.