Marcus & Millichap Inc (MMI): Are Hedge Funds Right About This Stock?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually cut their positions entirely. It’s worth mentioning that David Costen Haley’s HBK Investments cut the largest investment of all the investors monitored by Insider Monkey, comprising close to $0.5 million in stock. Ken Griffin’s fund, Citadel Investment Group, also cut its stock, about $0.4 million worth.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Marcus & Millichap Inc (NYSE:MMI) but similarly valued. These stocks are Surgery Partners Inc (NASDAQ:SGRY), Lannett Company, Inc. (NYSEAMEX:LCI), Array Biopharma Inc (NASDAQ:ARRY), and Red Rock Resorts Inc (NASDAQ:RRR). This group of stocks’ market values are closest to MMI’s market value.

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $173 million. That figure was $100 million in MMI’s case. Array Biopharma Inc (NASDAQ:ARRY) is the most popular stock in this table. On the other hand Surgery Partners Inc (NASDAQ:SGRY) is the least popular one with only 7 bullish hedge fund positions. Marcus & Millichap Inc (NYSE:MMI) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ARRY might be a better candidate to consider taking a long position in.