Newmark Group, Inc. (NASDAQ:NMRK) Short Interest Down 15.0% in May

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

Hedge Funds Weigh In On Newmark Group

A number of institutional investors and hedge funds have recently modified their holdings of NMRK. Barclays PLC boosted its holdings in shares of Newmark Group by 352.8% in the 3rd quarter. Barclays PLC now owns 227,099 shares of the company's stock worth $3,526,000 after purchasing an additional 176,947 shares during the period. Choreo LLC boosted its holdings in shares of Newmark Group by 38.6% in the 4th quarter. Choreo LLC now owns 24,697 shares of the company's stock worth $316,000 after purchasing an additional 6,883 shares during the period. Robertson Stephens Wealth Management LLC boosted its holdings in shares of Newmark Group by 1.7% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 319,185 shares of the company's stock worth $4,089,000 after purchasing an additional 5,186 shares during the period. Empowered Funds LLC boosted its holdings in shares of Newmark Group by 5.1% in the 4th quarter. Empowered Funds LLC now owns 787,582 shares of the company's stock worth $10,089,000 after purchasing an additional 38,464 shares during the period. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Newmark Group by 32.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 16,473 shares of the company's stock worth $211,000 after purchasing an additional 4,019 shares during the period. Hedge funds and other institutional investors own 58.42% of the company's stock.

Newmark Group Price Performance

Shares of NASDAQ:NMRK traded down $0.10 during trading on Thursday, hitting $11.16. 978,039 shares of the company's stock were exchanged, compared to its average volume of 1,149,120. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42. Newmark Group has a 52-week low of $9.64 and a 52-week high of $16.10. The business's 50-day simple moving average is $11.00 and its 200 day simple moving average is $12.79. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 31.89 and a beta of 1.94.

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

Newmark Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Wednesday, May 14th. Newmark Group's dividend payout ratio (DPR) is 30.77%.

Wall Street Analysts Forecast Growth

NMRK has been the topic of several recent research reports. Wolfe Research raised Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price objective on the stock in a research note on Friday, May 23rd. Piper Sandler decreased their price objective on 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 decreased their price objective on Newmark Group from $14.50 to $14.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group decreased their price objective on Newmark Group from $19.50 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th.

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.