Marcus & Millichap (NYSE:MMI) Trading Down 4.9%

Marcus & Millichap, Inc. (NYSE:MMI) traded down 4.9% on Monday . The stock traded as low as $29.99 and last traded at $29.99. 19,572 shares were traded during mid-day trading, a decline of 87% from the average session volume of 151,216 shares. The stock had previously closed at $31.52.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Marcus & Millichap from a “hold” rating to a “sell” rating in a research note on Friday, June 28th.

Marcus & Millichap Stock Performance

The stock has a 50-day moving average of $32.25 and a two-hundred day moving average of $35.07.

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 firm had revenue of $129.10 million for 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 other news, COO John David Parker sold 1,835 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 13,373 shares of the company’s stock, valued at $471,933.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO John David Parker sold 1,835 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 13,373 shares in the company, valued at $471,933.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory A. Laberge sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $32.68, for a total transaction of $32,680.00. Following the sale, the insider now owns 6,050 shares of the company’s stock, valued at $197,714. The disclosure for this sale can be found here. 39.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marcus & Millichap

Institutional investors have recently made changes to their positions in the business. Signaturefd LLC grew its position in Marcus & Millichap by 112.6% during the fourth 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 period. Allspring Global Investments Holdings LLC purchased a new stake in Marcus & Millichap in the first quarter worth about $85,000. EntryPoint Capital LLC purchased a new position in shares of Marcus & Millichap during the 1st quarter valued at about $85,000. LRI Investments LLC bought a new stake in Marcus & Millichap during the 1st quarter worth approximately $143,000. Finally, Scharf Investments LLC lifted its holdings in Marcus & Millichap by 18.8% during the first quarter. Scharf Investments LLC now owns 5,905 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 933 shares in the last quarter. Institutional investors own 62.78% of the company’s stock.

About Marcus & Millichap

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.