Newmark Group (NASDAQ:NMRK) Reaches New 1-Year High at $15.15

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

Analyst Upgrades and Downgrades

Several equities analysts have 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 on the stock in a report on Friday, August 16th. Keefe, Bruyette & Woods upgraded shares of Newmark Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $13.50 to $16.50 in a research note on Thursday, September 5th. Finally, Piper Sandler raised their price objective on 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 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 firm has a market capitalization of $2.58 billion, a PE ratio of 67.86 and a beta of 2.01. The company has a fifty day moving average price of $12.99 and a 200-day moving average price of $11.25.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.22 earnings per share 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 for the quarter, compared to analysts’ expectations of $630.27 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. Newmark Group’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, analysts expect that Newmark Group, Inc. will post 1.15 earnings per share for the current year.

Newmark Group Dividend Announcement

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

Institutional Investors Weigh In On Newmark Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NMRK. Charles Schwab Investment Management Inc. boosted its holdings in shares of Newmark Group by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,969,167 shares of the company’s stock worth $21,582,000 after purchasing an additional 81,209 shares during the period. Teacher Retirement System of Texas boosted its stake in Newmark Group by 221.3% during the fourth quarter. Teacher Retirement System of Texas now owns 36,038 shares of the company’s stock worth $395,000 after buying an additional 24,821 shares during the period. BNP Paribas Financial Markets increased its position in Newmark Group by 168.5% during the fourth quarter. BNP Paribas Financial Markets now owns 136,034 shares of the company’s stock valued at $1,491,000 after acquiring an additional 85,362 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Newmark Group by 15.8% in the fourth quarter. QRG Capital Management Inc. now owns 16,367 shares of the company’s stock valued at $179,000 after acquiring an additional 2,228 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Newmark Group by 10.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,220,485 shares of the company’s stock worth $68,178,000 after acquiring an additional 570,935 shares during the last quarter. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

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.