Newmark Group (NASDAQ:NMRK) Shares Gap Up to $13.93

Shares of Newmark Group, Inc. (NASDAQ:NMRK) gapped up prior to trading on Thursday . The stock had previously closed at $13.93, but opened at $14.47. Newmark Group shares last traded at $14.41, with a volume of 163,429 shares changing hands.

Wall Street Analyst Weigh In

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

Newmark Group Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a fifty day simple moving average of $12.18 and a two-hundred day simple moving average of $11.00. The firm has a market capitalization of $2.42 billion, a P/E ratio of 63.82 and a beta of 2.01.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.22 EPS for the quarter, topping 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 company had revenue of $633.40 million during the quarter, compared to the consensus estimate of $630.27 million. During the same quarter last year, the firm posted $0.18 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, research analysts predict that Newmark Group, Inc. will post 1.14 EPS for the current year.

Newmark Group Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.86%. Newmark Group’s dividend payout ratio is currently 54.55%.

Institutional Trading of Newmark Group

Several large investors have recently made changes to their positions in NMRK. Riverview Trust Co bought a new position in Newmark Group in the first quarter worth approximately $29,000. Fifth Third Bancorp bought a new position in shares of Newmark Group in the 2nd quarter worth $33,000. EntryPoint Capital LLC grew 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 valued at $49,000 after purchasing an additional 1,159 shares during the period. Black Diamond Financial LLC bought a new stake in Newmark Group during the 2nd quarter valued at $102,000. Finally, Evergreen Capital Management LLC acquired a new position in Newmark Group during the second quarter worth $107,000. 58.42% of the stock is currently owned by institutional investors and hedge funds.

Newmark Group Company Profile

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.