Marcus & Millichap (NYSE:MMI) Stock Price Down 4.9%

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

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a research note on Friday.

Marcus & Millichap Stock Performance

The business’s 50 day moving average price is $32.32 and its 200-day moving average price is $35.21. The firm has a market capitalization of $1.16 billion, a PE ratio of -30.44 and a beta of 1.12.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.26) earnings per share (EPS) 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 company’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 transaction of $64,757.15. Following the sale, the chief operating officer now directly owns 13,373 shares of the company’s stock, valued at approximately $471,933.17. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Marcus & Millichap news, insider Gregory A. Laberge sold 1,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 6,050 shares in the company, valued at approximately $197,714. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John David Parker sold 1,835 shares of the business’s 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 transaction, the chief operating officer now owns 13,373 shares of the company’s stock, valued at approximately $471,933.17. The disclosure for this sale can be found here. 39.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in Marcus & Millichap by 112.6% during the 4th quarter. Signaturefd LLC now owns 623 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 330 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Marcus & Millichap during the 1st quarter worth approximately $85,000. EntryPoint Capital LLC acquired a new position in Marcus & Millichap during the 1st quarter worth approximately $85,000. LRI Investments LLC acquired a new position in Marcus & Millichap during the 1st quarter worth approximately $143,000. Finally, Scharf Investments LLC acquired a new position in shares of Marcus & Millichap in the 4th quarter valued at $217,000. Institutional investors and hedge funds 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.