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

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

Wall Street Analysts Forecast Growth

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

Marcus & Millichap Stock Down 4.7 %

The company’s fifty day simple moving average is $32.32 and its 200 day simple moving average 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 issued its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported ($0.26) EPS for the quarter. Marcus & Millichap had a negative return on equity of 5.91% and a negative net margin of 6.16%. The company had revenue of $129.10 million during the quarter.

Insider Buying and Selling at Marcus & Millichap

In other Marcus & Millichap news, insider Gregory A. Laberge sold 1,000 shares of the firm’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 of the company’s stock, valued at $197,714. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 transaction of $64,757.15. Following the completion of the sale, the chief operating officer now owns 13,373 shares of the company’s stock, valued at $471,933.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gregory A. Laberge sold 1,000 shares of the firm’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 sale, the insider now directly owns 6,050 shares of the company’s stock, valued at approximately $197,714. The disclosure for this sale can be found here. Insiders own 39.89% of the company’s stock.

Institutional Investors Weigh In On Marcus & Millichap

Institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC increased its position in shares of 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 acquiring an additional 330 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Marcus & Millichap in the 1st quarter worth approximately $85,000. EntryPoint Capital LLC bought a new stake in Marcus & Millichap in the 1st quarter worth approximately $85,000. LRI Investments LLC bought a new stake in Marcus & Millichap in the 1st quarter worth approximately $143,000. Finally, Scharf Investments LLC grew its position in Marcus & Millichap by 18.8% in the 1st quarter. Scharf Investments LLC now owns 5,905 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 933 shares during the period. Institutional investors own 62.78% of the company’s stock.

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.