Marcus & Millichap (NYSE:MMI) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Marcus & Millichap, Inc. (NYSE:MMI)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $29.41 and traded as high as $30.92. Marcus & Millichap shares last traded at $30.89, with a volume of 182,330 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings raised shares of Marcus & Millichap from a “sell (d)” rating to a “hold (c-)” rating in a report on Friday, August 21st. Wall Street Zen downgraded Marcus & Millichap from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 5th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $28.00.

Marcus & Millichap Trading Down 3.0%

The firm has a fifty day simple moving average of $31.31 and a 200-day simple moving average of $29.44. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 81.11 and a beta of 1.23.

Marcus & Millichap (NYSE:MMI) last released its earnings results on Thursday, August 6th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. The company had revenue of $202.91 million for the quarter, compared to the consensus estimate of $194.30 million. Marcus & Millichap had a net margin of 1.77% and a return on equity of 2.97%.

Marcus & Millichap Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a dividend yield of 162.0%. Marcus & Millichap’s payout ratio is 135.14%.

Hedge Funds Weigh In On Marcus & Millichap

Several hedge funds have recently added to or reduced their stakes in MMI. WINTON GROUP Ltd boosted its holdings in Marcus & Millichap by 74.3% during the second quarter. WINTON GROUP Ltd now owns 79,750 shares of the real estate investment trust’s stock worth $2,486,000 after buying an additional 33,983 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Marcus & Millichap in the 2nd quarter valued at about $467,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Marcus & Millichap in the 2nd quarter valued at approximately $85,000. Squarepoint Ops LLC bought a new position in Marcus & Millichap during the 2nd quarter worth approximately $346,000. Finally, Allworth Financial LP grew its holdings in Marcus & Millichap by 182.4% during the second quarter. Allworth Financial LP now owns 1,491 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 963 shares during the period. Institutional investors and hedge funds own 62.78% of the company’s stock.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc is a commercial real estate brokerage and investment services company that specializes in the sale, financing, research and advisory of investment properties. Its platform serves private investors, institutions, developers and other real estate owners across a range of property types, including multifamily, retail, industrial, office, self-storage, hospitality, senior housing and manufactured housing.

The company provides investment sales and brokerage services through its Marcus & Millichap brand.