Newmark Group (NASDAQ:NMRK) Stock Price Up 7.2% - Here's Why

Key Points

• The stock price of Newmark Group (NASDAQ:NMRK) increased by 7.2% to $14.53 amid trading, despite a 42% decline in volume from the average daily shares traded.
• Several analysts have upgraded the stock's ratings, with a consensus average target price of $16.00 and six analysts rating it as a buy.
• Newmark Group reported a 21.8% increase in quarterly revenue, earning $665.49 million, and beat earnings per share estimates with a reported $0.21 EPS.

Newmark Group, Inc. (NASDAQ:NMRK - Get Free Report) was up 7.2% during mid-day trading on Tuesday . The company traded as high as $14.39 and last traded at $14.53. Approximately 645,116 shares changed hands during trading, a decline of 42% from the average daily volume of 1,103,268 shares. The stock had previously closed at $13.55.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Wall Street Zen raised Newmark Group from a "hold" rating to a "buy" rating in a research note on Saturday. Wolfe Research upgraded shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price objective on the stock in a research report on Friday, May 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Newmark Group from $14.00 to $15.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Piper Sandler reduced their target price on shares of Newmark Group from $19.00 to $16.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, Citizens Jmp assumed coverage on shares of Newmark Group in a research note on Monday, July 21st. They set a "strong-buy" rating and a $17.00 price target on the stock. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Newmark Group presently has an average rating of "Buy" and an average target price of $16.00.

Newmark Group Price Performance

The stock has a fifty day moving average of $11.86 and a two-hundred day moving average of $12.27. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 36.81 and a beta of 1.93. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.50.

Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 EPS for the quarter, beating 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 firm had revenue of $665.49 million during the quarter, compared to analysts' expectations of $609.28 million. During the same quarter last year, the business earned $0.15 earnings per share. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. On average, equities research analysts anticipate that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Institutional Investors Weigh In On Newmark Group

Large investors have recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC raised its position in shares of Newmark Group by 10.4% in the first quarter. OneDigital Investment Advisors LLC now owns 11,878 shares of the company's stock valued at $145,000 after buying an additional 1,121 shares during the last quarter. KBC Group NV acquired a new stake in Newmark Group during the first quarter worth approximately $78,000. Allspring Global Investments Holdings LLC raised its holdings in Newmark Group by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 62,072 shares of the company's stock valued at $752,000 after acquiring an additional 21,773 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Newmark Group by 2.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,900 shares of the company's stock valued at $959,000 after acquiring an additional 1,653 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Newmark Group during the 1st quarter worth $916,000. 58.42% of the stock is 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.

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