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

Marcus & Millichap, Inc. (NYSE:MMI) saw a large increase in short interest in January. As of January 15th, there was short interest totaling 492,746 shares, an increase of 28.0% from the December 31st total of 385,004 shares. Approximately 2.1% of the company’s stock are sold short. Based on an average daily trading volume, of 297,945 shares, the days-to-cover ratio is currently 1.7 days. Based on an average daily trading volume, of 297,945 shares, the days-to-cover ratio is currently 1.7 days. Approximately 2.1% of the company’s stock are sold short.

Marcus & Millichap Stock Performance

NYSE MMI traded down $0.33 during trading on Monday, reaching $26.87. The company’s stock had a trading volume of 158,203 shares, compared to its average volume of 262,694. Marcus & Millichap has a twelve month low of $25.30 and a twelve month high of $41.94. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -167.94 and a beta of 1.32. The business’s fifty day moving average price is $27.66 and its 200-day moving average price is $29.51.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MMI shares. 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. Wall Street Zen lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Marcus & Millichap in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $28.00.

Institutional Investors Weigh In On Marcus & Millichap

A number of hedge funds and other institutional investors have recently bought and sold shares of MMI. Vanguard Group Inc. increased its stake in Marcus & Millichap by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 3,816,951 shares of the real estate investment trust’s stock valued at $104,165,000 after purchasing an additional 86,609 shares in the last quarter. Tributary Capital Management LLC increased its position in shares of Marcus & Millichap by 92.4% in the third quarter. Tributary Capital Management LLC now owns 1,339,094 shares of the real estate investment trust’s stock valued at $39,302,000 after buying an additional 643,277 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of Marcus & Millichap by 2.8% during the 3rd quarter. Pzena Investment Management LLC now owns 631,330 shares of the real estate investment trust’s stock worth $18,530,000 after buying an additional 16,920 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Marcus & Millichap by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 625,781 shares of the real estate investment trust’s stock worth $19,219,000 after buying an additional 11,819 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Marcus & Millichap by 7.4% in the 2nd quarter. Jennison Associates LLC now owns 282,533 shares of the real estate investment trust’s stock worth $8,677,000 after buying an additional 19,351 shares in the last quarter. Institutional investors and hedge funds own 62.78% of the company’s stock.

Marcus & Millichap Company Profile

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.