Newmark Group (NASDAQ:NMRK) Trading Down 3.6% – What’s Next?

Newmark Group, Inc. (NASDAQ:NMRK) was down 3.6% during trading on Friday . The company traded as low as $15.01 and last traded at $15.12. Approximately 867,515 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 1,116,155 shares. The stock had previously closed at $15.69.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wolfe Research raised shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 target price for the company in a research note on Friday, August 16th. Keefe, Bruyette & Woods upgraded Newmark Group from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $13.50 to $16.50 in a research report on Thursday, September 5th. Finally, Piper Sandler lifted their target price on Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd.

Newmark Group Stock Down 4.8 %

The business’s 50 day simple moving average is $13.85 and its 200 day simple moving average is $11.66. The company has a market capitalization of $2.58 billion, a PE ratio of 67.91 and a beta of 2.01. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.49.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The business had revenue of $633.40 million during the quarter, compared to the consensus estimate of $630.27 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, analysts forecast that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.80%. Newmark Group’s dividend payout ratio is 54.55%.

Institutional Investors Weigh In On Newmark Group

Several hedge funds have recently bought and sold shares of NMRK. Riverview Trust Co acquired a new position in shares of Newmark Group in the 1st quarter valued at about $29,000. Fifth Third Bancorp acquired a new position in Newmark Group in the 2nd quarter valued at approximately $33,000. EntryPoint Capital LLC lifted its position in Newmark Group by 35.5% in the 1st quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock worth $49,000 after buying an additional 1,159 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Newmark Group during the 3rd quarter valued at $112,000. Finally, Black Diamond Financial LLC purchased a new position in shares of Newmark Group during the 2nd quarter valued at $102,000. 58.42% of the stock is owned by hedge funds and other institutional investors.

About Newmark Group

Newmark Group, Inc provides commercial real estate services in the United States, the United Kingdom, and internationally. The company offers capital markets consisting of investment sales and commercial mortgage brokerage; landlord or agency representation leasing; valuation and advisory; property management; commercial real estate technology platform and capabilities; the United Kingdom business rates services; due diligence, consulting, and other advisory services; GSEs and the Federal Housing Administration lending services comprising multifamily lending and loan servicing; asset management; and flexible workspace solutions for owners.