Newmark Group (NASDAQ:NMRK) Reaches New 12-Month High at $15.15

Newmark Group, Inc. (NASDAQ:NMRK) hit a new 52-week high during trading on Tuesday . The company traded as high as $15.15 and last traded at $15.04, with a volume of 26009 shares trading hands. The stock had previously closed at $14.95.

Wall Street Analyst Weigh In

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

Newmark Group Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.49. The business has a 50 day moving average price of $12.80 and a 200-day moving average price of $11.20. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 67.95 and a beta of 2.01.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $633.40 million during the quarter, compared to the consensus estimate of $630.27 million. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 EPS. Research analysts predict that Newmark Group, Inc. will post 1.15 EPS for the current fiscal year.

Newmark Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.80%. The ex-dividend date was Friday, August 16th. Newmark Group’s dividend payout ratio is currently 54.55%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Systematic Financial Management LP lifted its position in Newmark Group by 11.9% during the 2nd quarter. Systematic Financial Management LP now owns 928,935 shares of the company’s stock valued at $9,503,000 after acquiring an additional 98,532 shares during the period. Creative Planning lifted its position in Newmark Group by 3.0% during the second quarter. Creative Planning now owns 39,393 shares of the company’s stock valued at $403,000 after purchasing an additional 1,131 shares in the last quarter. Algert Global LLC lifted its holdings in Newmark Group by 89.5% during the second quarter. Algert Global LLC now owns 144,978 shares of the company’s stock valued at $1,483,000 after purchasing an additional 68,468 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Newmark Group by 21.0% in the 2nd quarter. Mackenzie Financial Corp now owns 12,389 shares of the company’s stock worth $127,000 after purchasing an additional 2,153 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Newmark Group by 153.6% in the second quarter. Cubist Systematic Strategies LLC now owns 599,351 shares of the company’s stock valued at $6,131,000 after purchasing an additional 363,032 shares in the last quarter. 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.