Newmark Group (NASDAQ:NMRK) Reaches New 1-Year High at $15.53

Newmark Group, Inc. (NASDAQ:NMRK) reached a new 52-week high on Tuesday . The company traded as high as $15.53 and last traded at $15.53, with a volume of 346818 shares. The stock had previously closed at $15.34.

Wall Street Analyst Weigh In

Several analysts have commented on NMRK shares. Wolfe Research raised Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price objective on the stock 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 boosted their price target for the stock from $13.50 to $16.50 in a report on Thursday, September 5th. Finally, Piper Sandler increased their price objective on shares of Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd.

Newmark Group Price Performance

The stock has a 50 day moving average price of $13.22 and a 200-day moving average price of $11.35. 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 market capitalization of $2.68 billion, a price-to-earnings ratio of 70.09 and a beta of 2.01.

Newmark Group (NASDAQ:NMRK) last released its earnings results 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 analyst estimates of $630.27 million. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, analysts forecast 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 issued a $0.03 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.12 annualized dividend and a dividend yield of 0.77%. Newmark Group’s dividend payout ratio is presently 54.55%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NMRK. Paulson & CO. Inc. grew its position in Newmark Group by 133.5% in the fourth quarter. Paulson & CO. Inc. now owns 3,000,000 shares of the company’s stock worth $32,880,000 after acquiring an additional 1,715,375 shares during the period. Vanguard Group Inc. increased its position in shares of Newmark Group by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock worth $227,067,000 after purchasing an additional 702,233 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Newmark Group by 1,595.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 713,621 shares of the company’s stock valued at $7,914,000 after buying an additional 671,521 shares during the period. Assenagon Asset Management S.A. raised 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 buying an additional 506,510 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Newmark Group by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company’s stock valued at $68,399,000 after buying an additional 480,047 shares during the last quarter. Hedge funds and other institutional investors own 58.42% of the company’s stock.

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.