Newmark Group (NASDAQ:NMRK) Trading 7% Higher – Should You Buy?

Shares of Newmark Group, Inc. (NASDAQ:NMRK) traded up 7% on Thursday . The company traded as high as $15.59 and last traded at $15.56. 432,634 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 1,150,673 shares. The stock had previously closed at $14.54.

Analysts Set New Price Targets

Several research firms have recently commented on NMRK. Keefe, Bruyette & Woods raised shares of Newmark Group from a “market perform” rating to an “outperform” rating and upped their price target for the company from $13.50 to $16.50 in a research report on Thursday, September 5th. Wolfe Research upgraded 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 boosted their price objective on shares of Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd.

Newmark Group Trading Down 1.8 %

The company has a market capitalization of $2.61 billion, a P/E ratio of 68.73 and a beta of 2.01. The stock has a 50 day moving average of $14.58 and a 200-day moving average of $12.05. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49.

Newmark Group (NASDAQ:NMRK) last announced 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. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The firm had revenue of $633.40 million during the quarter, compared to analysts’ expectations of $630.27 million. During the same period in the prior year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, research analysts predict that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Friday, August 16th. Newmark Group’s dividend payout ratio (DPR) is 54.55%.

Institutional Trading of Newmark Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Newmark Group by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock valued at $227,067,000 after buying an additional 702,233 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Newmark Group by 1,595.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 713,621 shares of the company’s stock valued at $7,914,000 after acquiring an additional 671,521 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Newmark Group by 251.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock valued at $7,246,000 after acquiring an additional 506,510 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Newmark Group by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company’s stock worth $68,399,000 after purchasing an additional 480,047 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Newmark Group during the 4th quarter valued at about $4,518,000. Institutional investors own 58.42% of the company’s stock.

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.