Newmark Group (NASDAQ:NMRK) Trading Down 3.6% – Time to Sell?

Newmark Group, Inc. (NASDAQ:NMRK) shares fell 3.6% during trading on Friday . The company traded as low as $15.01 and last traded at $15.12. 867,515 shares were traded during mid-day trading, a decline of 22% from the average session volume of 1,116,155 shares. The stock had previously closed at $15.69.

Analysts Set New Price Targets

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

Newmark Group Stock Down 5.5 %

The stock has a market capitalization of $2.56 billion, a PE ratio of 67.36 and a beta of 2.01. The firm has a 50 day moving average of $13.81 and a two-hundred day moving average of $11.62. 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 released its quarterly earnings data on Friday, August 2nd. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. Newmark Group had a return on equity of 17.78% and a net margin of 1.75%. The firm had revenue of $633.40 million during the quarter, compared to the consensus estimate of $630.27 million. During the same period last year, the business posted $0.18 EPS. Newmark Group’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts anticipate 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. Shareholders of record on Friday, August 16th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.81%. The ex-dividend date was Friday, August 16th. Newmark Group’s payout ratio is 54.55%.

Hedge Funds Weigh In On Newmark Group

Several hedge funds have recently bought and sold shares of NMRK. HGI Capital Management LLC increased its position in Newmark Group by 46.5% during the fourth quarter. HGI Capital Management LLC now owns 497,620 shares of the company’s stock worth $5,454,000 after buying an additional 158,013 shares in the last quarter. Paulson & CO. Inc. increased its position in Newmark Group by 133.5% during the fourth quarter. Paulson & CO. Inc. now owns 3,000,000 shares of the company’s stock worth $32,880,000 after buying an additional 1,715,375 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Newmark Group by 4.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,311,813 shares of the company’s stock worth $14,377,000 after purchasing an additional 54,909 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Newmark Group during the fourth quarter worth $4,518,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Newmark Group during the fourth quarter worth $172,000. Hedge funds and other 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.