Newmark Group (NASDAQ:NMRK) Stock Rating Lowered by Wolfe Research

Newmark Group (NASDAQ:NMRK) was downgraded by stock analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued to clients and investors on Monday, MarketBeat reports.

NMRK has been the subject of several other research reports. Piper Sandler upped their price objective on Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. 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 report on Thursday, September 5th.

Newmark Group Stock Up 0.7 %

Newmark Group stock opened at $15.63 on Monday. Newmark Group has a 52 week low of $7.73 and a 52 week high of $16.10. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 52.10 and a beta of 2.01. The company’s 50-day moving average price is $15.13 and its two-hundred day moving average price is $12.89. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $685.90 million for the quarter, compared to analyst estimates of $682.07 million. Newmark Group had a net margin of 2.00% and a return on equity of 18.95%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the business earned $0.27 earnings per share. On average, analysts expect that Newmark Group will post 1.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Newmark Group

Hedge funds have recently modified their holdings of the stock. Miller Howard Investments Inc. NY grew its position in Newmark Group by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 35,091 shares of the company’s stock worth $359,000 after purchasing an additional 823 shares in the last quarter. Diversified Trust Co raised its position in Newmark Group by 4.6% during the second quarter. Diversified Trust Co now owns 24,329 shares of the company’s stock valued at $249,000 after buying an additional 1,080 shares during the period. Creative Planning lifted its stake in Newmark Group by 3.0% in the 2nd quarter. Creative Planning now owns 39,393 shares of the company’s stock worth $403,000 after acquiring an additional 1,131 shares in the last quarter. EntryPoint Capital LLC boosted its position in Newmark Group by 35.5% during the 1st quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock worth $49,000 after acquiring an additional 1,159 shares during the period. Finally, Hsbc Holdings PLC grew its stake in Newmark Group by 6.1% during the 2nd quarter. Hsbc Holdings PLC now owns 24,870 shares of the company’s stock valued at $253,000 after acquiring an additional 1,420 shares in the last quarter. 58.42% of the stock is currently owned by institutional investors and hedge funds.

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.