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

Marcus & Millichap (NYSE:MMIGet Free Report) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Monday.

Marcus & Millichap Stock Up 1.2 %

Shares of NYSE MMI opened at $32.72 on Monday. The company has a market capitalization of $1.26 billion, a PE ratio of -36.76 and a beta of 1.22. The stock’s 50 day moving average price is $36.32 and its 200-day moving average price is $34.62. Marcus & Millichap has a twelve month low of $26.81 and a twelve month high of $44.24.

Marcus & Millichap (NYSE:MMIGet Free Report) last posted its quarterly earnings results on Friday, February 16th. The real estate investment trust reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.01. The company had revenue of $166.24 million during the quarter. Marcus & Millichap had a negative net margin of 5.27% and a negative return on equity of 5.16%.

Insider Activity

In related news, COO Richard D. Matricaria sold 9,500 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $33.32, for a total value of $316,540.00. Following the sale, the chief operating officer now directly owns 7,078 shares in the company, valued at approximately $235,838.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO John David Parker sold 9,716 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $32.83, for a total transaction of $318,976.28. Following the sale, the chief operating officer now directly owns 12,376 shares in the company, valued at approximately $406,304.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Richard D. Matricaria sold 9,500 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $33.32, for a total value of $316,540.00. Following the completion of the transaction, the chief operating officer now owns 7,078 shares of the company’s stock, valued at approximately $235,838.96. The disclosure for this sale can be found here. Insiders own 39.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MMI. Signaturefd LLC increased its holdings in shares of Marcus & Millichap by 112.6% in the 4th quarter. Signaturefd LLC now owns 623 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 330 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Marcus & Millichap during the second quarter worth about $58,000. Captrust Financial Advisors boosted its holdings in shares of Marcus & Millichap by 23.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,825 shares of the real estate investment trust’s stock worth $68,000 after purchasing an additional 342 shares in the last quarter. West Tower Group LLC bought a new position in shares of Marcus & Millichap during the 4th quarter valued at about $73,000. Finally, Quantbot Technologies LP purchased a new position in shares of Marcus & Millichap during the 3rd quarter valued at about $75,000. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

About Marcus & Millichap

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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.

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