Newmark Group, Inc. (NASDAQ:NMRK) Sees Large Decrease in Short Interest

Newmark Group, Inc. (NASDAQ:NMRK - Get Free Report) saw a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 3,690,000 shares, a decrease of 15.0% from the April 30th total of 4,340,000 shares. Based on an average daily volume of 1,130,000 shares, the days-to-cover ratio is currently 3.3 days. Approximately 2.5% of the company's shares are sold short.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of Newmark Group from $19.50 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Piper Sandler dropped their target price on shares of Newmark Group from $19.00 to $16.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Keefe, Bruyette & Woods dropped their target price on shares of Newmark Group from $14.50 to $14.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen downgraded shares of Newmark Group from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Wolfe Research upgraded shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 target price on the stock in a research note on Friday, May 23rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $15.25.

Newmark Group Trading Up 1.7%

NMRK stock traded up $0.19 during mid-day trading on Friday, reaching $11.35. The company had a trading volume of 658,157 shares, compared to its average volume of 1,147,059. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a 50 day moving average of $10.97 and a 200 day moving average of $12.74. Newmark Group has a 12 month low of $9.64 and a 12 month high of $16.10. The company has a market capitalization of $2.09 billion, a PE ratio of 32.43 and a beta of 1.94.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The firm had revenue of $665.49 million for the quarter, compared to the consensus estimate of $609.28 million. During the same period last year, the firm earned $0.15 earnings per share. The company's quarterly revenue was up 21.8% on a year-over-year basis. On average, equities analysts predict that Newmark Group will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.06%. Newmark Group's dividend payout ratio is presently 30.77%.

Hedge Funds Weigh In On Newmark Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio bought a new position in shares of Newmark Group during the first quarter valued at approximately $298,000. Intech Investment Management LLC lifted its position in Newmark Group by 39.3% during the first quarter. Intech Investment Management LLC now owns 127,299 shares of the company's stock valued at $1,549,000 after acquiring an additional 35,926 shares during the last quarter. Jane Street Group LLC lifted its position in Newmark Group by 148.3% during the first quarter. Jane Street Group LLC now owns 390,633 shares of the company's stock valued at $4,754,000 after acquiring an additional 233,330 shares during the last quarter. Aristeia Capital L.L.C. purchased a new stake in Newmark Group during the first quarter valued at approximately $481,000. Finally, Caxton Associates LLP purchased a new stake in Newmark Group during the first quarter valued at approximately $276,000. 58.42% of the stock is currently owned by institutional investors.

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.