Some Traders Are Very Bearish on Marcus & Millichap Inc (MMI) After Forming Bearish Double Bottom Chart Pattern

September 17, 2017 - By Richard Conner

Investors sentiment decreased to 0.86 in Q4 2016. Its down 0.37, from 1.23 in 2016Q3. It worsened, as 19 investors sold Marcus & Millichap Inc shares while 38 reduced holdings. 20 funds opened positions while 29 raised stakes. 13.62 million shares or 7.95% more from 12.62 million shares in 2016Q3 were reported.
Horizon Kinetics Ltd Limited Liability Company has invested 0.01% in Marcus & Millichap Inc (NYSE:MMI). Panagora Asset Management reported 0% in Marcus & Millichap Inc (NYSE:MMI). Rhumbline Advisers holds 0% of its portfolio in Marcus & Millichap Inc (NYSE:MMI) for 14,725 shares. Blackrock Japan Limited invested 0% in Marcus & Millichap Inc (NYSE:MMI). Moreover, Stevens Mngmt Limited Partnership has 0.01% invested in Marcus & Millichap Inc (NYSE:MMI) for 8,165 shares. Tower Research Lc (Trc) reported 267 shares. California State Teachers Retirement accumulated 29,958 shares. Royal Comml Bank Of Canada invested 0% of its portfolio in Marcus & Millichap Inc (NYSE:MMI). 89,476 were reported by Bank & Trust Of New York Mellon. Blair William & Il reported 0.02% of its portfolio in Marcus & Millichap Inc (NYSE:MMI). Tiaa Cref Mgmt Ltd Liability, New York-based fund reported 102,645 shares. Moreover, Pacific Ridge Capital Partners Limited Com has 0.1% invested in Marcus & Millichap Inc (NYSE:MMI) for 10,670 shares. D E Shaw & Com Inc has invested 0% of its portfolio in Marcus & Millichap Inc (NYSE:MMI). Gsa Prtn Llp holds 31,423 shares. Alliancebernstein Lp owns 0% invested in Marcus & Millichap Inc (NYSE:MMI) for 11,400 shares.

The chart of Marcus & Millichap Inc (MMI) shows a double bottom with $23.94 target or 5.00 % below today’s $25.20 share price. The 9 months chart pattern indicates high risk for the $960.56 million company. It was reported on Sep, 17 by Finviz.com. If the $23.94 price target is reached, the company will be worth $48.03M less. Double bottoms are rare but powerful chart patterns.

The stock decreased 1.87% or $0.48 on September 15, reaching $25.2. About 240,630 shares traded or 121.63% up from the average. Marcus & Millichap Inc (NYSE:MMI) has declined 0.91% since September 17, 2016 and is downtrending. It has underperformed by 17.61% the S&P500.

Analysts expect Marcus & Millichap Inc (NYSE:MMI) to report $0.34 EPS on November, 2.They anticipate $0.05 EPS change or 12.82 % from last quarter’s $0.39 EPS. MMI’s profit would be $12.96 million giving it 18.53 P/E if the $0.34 EPS is correct. After having $0.40 EPS previously, Marcus & Millichap Inc’s analysts see -15.00 % EPS growth.

Marcus & Millichap Inc (NYSE:MMI) Ratings Coverage

Among 4 analysts covering Marcus & Millichap (NYSE:MMI), 0 have Buy rating, 0 Sell and 4 Hold. Therefore 0 are positive. Marcus & Millichap had 8 analyst reports since August 7, 2015 according to SRatingsIntel. The firm has “Market Perform” rating by JMP Securities given on Monday, October 26. The firm earned “Market Perform” rating on Friday, October 23 by Wells Fargo. Citigroup maintained the shares of MMI in report on Friday, August 7 with “Buy” rating. The firm has “Neutral” rating by Citigroup given on Tuesday, December 20. The stock of Marcus & Millichap Inc (NYSE:MMI) earned “Neutral” rating by Goldman Sachs on Tuesday, November 10. The stock of Marcus & Millichap Inc (NYSE:MMI) earned “Sell” rating by Goldman Sachs on Wednesday, August 12.

More important recent Marcus & Millichap Inc (NYSE:MMI) news were published by: Businesswire.com which released: “Marcus & Millichap, Inc. to Report Second Quarter 2017 Financial Results on …” on July 27, 2017, also Seekingalpha.com published article titled: “Marcus & Millichap: A Real Estate Compounder”, Seekingalpha.com published: “Marcus & Millichap’s (MMI) CEO Hessam Nadji on Q2 2017 Results – Earnings Call …” on August 13, 2017. More interesting news about Marcus & Millichap Inc (NYSE:MMI) was released by: Seekingalpha.com and their article: “Marcus & Millichap’s (MMI) CEO Hessam Nadji on Q1 2017 Results – Earnings Call …” with publication date: May 10, 2017.

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