Short Interest in Marcus & Millichap, Inc. (NYSE:MMI) Expands By 28.0%

Marcus & Millichap, Inc. (NYSE:MMI) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 492,746 shares, a growth of 28.0% from the December 31st total of 385,004 shares. Based on an average daily volume of 297,945 shares, the short-interest ratio is currently 1.7 days. Currently, 2.1% of the shares of the stock are short sold. Currently, 2.1% of the shares of the stock are short sold. Based on an average daily volume of 297,945 shares, the short-interest ratio is currently 1.7 days.

Hedge Funds Weigh In On Marcus & Millichap

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC raised its position in Marcus & Millichap by 42.8% in the first quarter. AQR Capital Management LLC now owns 13,702 shares of the real estate investment trust’s stock valued at $472,000 after purchasing an additional 4,110 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Marcus & Millichap by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust’s stock valued at $481,000 after buying an additional 600 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Marcus & Millichap by 12.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,339 shares of the real estate investment trust’s stock valued at $2,664,000 after buying an additional 8,369 shares during the period. Jane Street Group LLC lifted its stake in Marcus & Millichap by 325.7% during the 1st quarter. Jane Street Group LLC now owns 43,091 shares of the real estate investment trust’s stock worth $1,484,000 after acquiring an additional 32,968 shares in the last quarter. Finally, Strs Ohio purchased a new position in Marcus & Millichap during the 1st quarter valued at about $145,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Stock Performance

Shares of MMI traded down $0.33 during mid-day trading on Monday, hitting $26.87. 158,203 shares of the company were exchanged, compared to its average volume of 262,694. The company has a 50 day moving average of $27.66 and a 200-day moving average of $29.51. Marcus & Millichap has a 1-year low of $25.30 and a 1-year high of $41.94. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -167.94 and a beta of 1.32.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings data on Friday, November 7th. The real estate investment trust reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.13. Marcus & Millichap had a negative net margin of 0.89% and a negative return on equity of 0.58%. The company had revenue of $193.89 million during the quarter, compared to the consensus estimate of $183.10 million.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Marcus & Millichap in a report on Monday, December 29th. Wall Street Zen lowered Marcus & Millichap from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Finally, Wells Fargo & Company cut their price objective on shares of Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Marcus & Millichap currently has a consensus rating of “Reduce” and a consensus target price of $28.00.

About Marcus & Millichap

Marcus & Millichap (NYSE: MMI) is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.