Newmark Group (NASDAQ:NMRK) Sees Unusually-High Trading Volume – Time to Buy?

Newmark Group, Inc. (NASDAQ:NMRK) saw unusually-strong trading volume on Wednesday . Approximately 1,607,822 shares changed hands during trading, an increase of 42% from the previous session’s volume of 1,131,061 shares.The stock last traded at $14.85 and had previously closed at $14.64.

Wall Street Analysts Forecast Growth

NMRK has been the topic of several research reports. Wolfe Research raised shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research note on Friday, August 16th. Keefe, Bruyette & Woods upgraded Newmark Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $13.50 to $16.50 in a research note on Thursday, September 5th. Finally, Piper Sandler lifted their price objective on Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd.

Newmark Group Trading Down 0.1 %

The stock has a market cap of $2.52 billion, a PE ratio of 66.55 and a beta of 2.01. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.49. The stock’s fifty day moving average price is $13.93 and its 200 day moving average price is $11.71.

Newmark Group (NASDAQ:NMRK) last posted its earnings results on Friday, August 2nd. The company reported $0.22 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 return on equity of 17.78% and a net margin of 1.75%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 EPS. On average, sell-side analysts forecast that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Friday, August 16th. Newmark Group’s payout ratio is presently 54.55%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NMRK. Riverview Trust Co purchased a new position in shares of Newmark Group in the 1st quarter worth $29,000. Fifth Third Bancorp purchased a new position in Newmark Group in the second quarter worth about $33,000. EntryPoint Capital LLC grew its stake in shares of Newmark Group by 35.5% during the 1st quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock valued at $49,000 after purchasing an additional 1,159 shares during the period. Black Diamond Financial LLC purchased a new stake in shares of Newmark Group during the 2nd quarter valued at about $102,000. Finally, Evergreen Capital Management LLC bought a new position in shares of Newmark Group in the 2nd quarter worth approximately $107,000. 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.