Citizens Jmp Initiates Coverage on Newmark Group (NASDAQ:NMRK)

Equities researchers at Citizens Jmp started coverage on shares of Newmark Group (NASDAQ:NMRK - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage set a "strong-buy" rating and a $17.00 price target on the stock. Citizens Jmp's price target would indicate a potential upside of 26.72% from the company's current price.

Other analysts have also recently issued reports about the company. JMP Securities initiated coverage on Newmark Group in a research report on Monday. They set a "market outperform" rating and a $17.00 price objective for the company. Wall Street Zen lowered shares of Newmark Group from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Wolfe Research upgraded shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price objective for the company in a research report on Friday, May 23rd. Keefe, Bruyette & Woods reduced their target price on shares of Newmark Group from $14.50 to $14.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Piper Sandler dropped their price target 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. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $15.83.

Newmark Group Stock Performance

Shares of NMRK stock traded up $0.15 during trading hours on Monday, hitting $13.42. The stock had a trading volume of 436,217 shares, compared to its average volume of 1,097,622. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market capitalization of $2.48 billion, a PE ratio of 34.40 and a beta of 1.93. The stock's 50 day moving average is $11.74 and its 200 day moving average is $12.24. Newmark Group has a twelve month low of $9.65 and a twelve month high of $16.10.

Newmark Group (NASDAQ:NMRK - Get Free Report) last issued its quarterly earnings data 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. Newmark Group had a net margin of 2.39% and a return on equity of 21.85%. The company 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 posted $0.15 EPS. Newmark Group's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, research analysts forecast that Newmark Group will post 1.45 earnings per share for the current fiscal year.

Institutional Trading of Newmark Group

Several large investors have recently bought and sold shares of NMRK. Nuveen LLC purchased a new stake in Newmark Group in the 1st quarter valued at approximately $21,497,000. Millennium Management LLC increased its stake in shares of Newmark Group by 89.7% during the 1st quarter. Millennium Management LLC now owns 3,635,561 shares of the company's stock valued at $44,245,000 after acquiring an additional 1,719,375 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Newmark Group by 103.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,948,511 shares of the company's stock worth $37,770,000 after acquiring an additional 1,502,372 shares during the period. Boston Partners boosted its position in shares of Newmark Group by 593.5% in the first quarter. Boston Partners now owns 1,339,730 shares of the company's stock worth $16,299,000 after acquiring an additional 1,146,544 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Newmark Group by 851.7% during the fourth quarter. Wells Fargo & Company MN now owns 848,475 shares of the company's stock worth $10,869,000 after purchasing an additional 759,324 shares during the last quarter. Institutional investors and hedge funds own 58.42% of the company's stock.

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.