Marcus & Millichap Inc (MMI)
Marcus & Millichap, Inc., an investment brokerage firm, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company is headquartered in Calabasas, California.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is decreasing.
- The decline rate of the primary trend is 20.36% per annum.
- MMI price at the close of July 25, 2024 was $39.43 and was higher than the top border of the primary price channel by $10.75 (37.49%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 2.52% per annum.
- MMI price at the close of July 25, 2024 was higher than the top border of the secondary price channel by $0.02 (0.05%). This indicates a possible reversal in the secondary trend direction.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of MMI price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: October 1, 2021
End date: November 14, 2023
a = 4.3325
b = -0.0006
s = 0.0812
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0006) – 1
= -20.36%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0812) – 1
= 38.40%
October 1, 2021 calculations
Top border of price channel:
Exp(Y551)
= Exp(a + b × X551 + 2 × s)
= Exp(a + b × 798 + 2 × s)
= Exp(4.3325 + -0.0006 × 798 + 2 × 0.0812)
= Exp(3.9973)
= $54.45
Bottom border of price channel:
Exp(Y551)
= Exp(a + b × X551 – 2 × s)
= Exp(a + b × 798 – 2 × s)
= Exp(4.3325 + -0.0006 × 798 – 2 × 0.0812)
= Exp(3.6724)
= $39.34
November 14, 2023 calculations
Top border of price channel:
Exp(Y1,084)
= Exp(a + b × X1,084 + 2 × s)
= Exp(a + b × 1,572 + 2 × s)
= Exp(4.3325 + -0.0006 × 1,572 + 2 × 0.0812)
= Exp(3.5146)
= $33.60
Bottom border of price channel:
Exp(Y1,084)
= Exp(a + b × X1,084 – 2 × s)
= Exp(a + b × 1,572 – 2 × s)
= Exp(4.3325 + -0.0006 × 1,572 – 2 × 0.0812)
= Exp(3.1896)
= $24.28
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 20.36% per annum.
- MMI price at the close of July 25, 2024 was $39.43 and was higher than the top border of the primary price channel by $10.75 (37.49%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: June 8, 2022
End date: July 25, 2024
a = 3.6155
b = -0.0001
s = 0.0932
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0001) – 1
= -2.52%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0932) – 1
= 45.17%
June 8, 2022 calculations
Top border of price channel:
Exp(Y723)
= Exp(a + b × X723 + 2 × s)
= Exp(a + b × 1,048 + 2 × s)
= Exp(3.6155 + -0.0001 × 1,048 + 2 × 0.0932)
= Exp(3.7285)
= $41.62
Bottom border of price channel:
Exp(Y723)
= Exp(a + b × X723 – 2 × s)
= Exp(a + b × 1,048 – 2 × s)
= Exp(3.6155 + -0.0001 × 1,048 – 2 × 0.0932)
= Exp(3.3558)
= $28.67
July 25, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(3.6155 + -0.0001 × 1,826 + 2 × 0.0932)
= Exp(3.6740)
= $39.41
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.6155 + -0.0001 × 1,826 – 2 × 0.0932)
= Exp(3.3013)
= $27.15
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 2.52% per annum.
- MMI price at the close of July 25, 2024 was higher than the top border of the secondary price channel by $0.02 (0.05%). This indicates a possible reversal in the secondary trend direction.