Marcus & Millichap (NYSE:MMI) Downgraded to “Sell” at StockNews.com

Marcus & Millichap (NYSE:MMI) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Marcus & Millichap Stock Performance

Shares of MMI stock traded up $0.10 during trading hours on Friday, hitting $31.52. The company had a trading volume of 580,769 shares, compared to its average volume of 152,321. Marcus & Millichap has a 12 month low of $26.81 and a 12 month high of $44.24. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -31.52 and a beta of 1.10. The firm’s fifty day moving average is $32.32 and its 200 day moving average is $35.24.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Signaturefd LLC boosted its position in Marcus & Millichap by 112.6% in the 4th quarter. Signaturefd LLC now owns 623 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 330 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Marcus & Millichap in the 1st quarter valued at $85,000. EntryPoint Capital LLC acquired a new position in shares of Marcus & Millichap in the 1st quarter valued at $85,000. LRI Investments LLC acquired a new position in shares of Marcus & Millichap in the 1st quarter valued at $143,000. Finally, Scharf Investments LLC acquired a new position in shares of Marcus & Millichap in the 4th quarter valued at $217,000. 62.78% of the stock is currently owned by institutional investors.

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.