Newmark Group (NASDAQ:NMRK) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Newmark Group from “buy” to “strong-buy,” while analysts maintain a consensus “Buy” rating and a $19.62 target price.
• Newmark shares rose 3.2% to open at $15.89, compared with a 12-month range of $13.36 to $19.83; analysts expect fiscal-year EPS of $1.99.
• Institutional investors increased their holdings, with hedge funds and other institutions owning 58.42% of Newmark’s outstanding stock.

Newmark Group (NASDAQ:NMRK - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Tuesday.

Other analysts have also issued research reports about the company. Piper Sandler reiterated an "overweight" rating and set a $19.00 price target on shares of Newmark Group in a research report on Monday, June 29th. Weiss Ratings upgraded shares of Newmark Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 11th. Keefe, Bruyette & Woods upped their price objective on shares of Newmark Group from $18.00 to $18.50 and gave the company an "outperform" rating in a research note on Friday, May 1st. Citizens Jmp upped their price objective on shares of Newmark Group from $21.00 to $22.00 and gave the company a "market outperform" rating in a research note on Friday, May 1st. Finally, Zacks Research raised shares of Newmark Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $19.62.

Newmark Group Trading Up 3.2%

Shares of NMRK stock opened at $15.89 on Tuesday. The business has a 50-day moving average price of $15.00 and a two-hundred day moving average price of $15.46. Newmark Group has a 12-month low of $13.36 and a 12-month high of $19.83. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.50. The firm has a market cap of $2.82 billion, a P/E ratio of 19.62 and a beta of 1.68.

Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.08 EPS for the quarter. The firm had revenue of $846.52 million for the quarter. Newmark Group had a return on equity of 26.23% and a net margin of 4.30%. Equities analysts anticipate that Newmark Group will post 1.99 EPS for the current fiscal year.

Institutional Trading of Newmark Group

A number of institutional investors have recently modified their holdings of NMRK. Royal Bank of Canada lifted its holdings in Newmark Group by 16.5% in the 1st quarter. Royal Bank of Canada now owns 44,977 shares of the company's stock worth $546,000 after buying an additional 6,375 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Newmark Group by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,330 shares of the company's stock worth $953,000 after purchasing an additional 3,430 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Newmark Group by 2.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,481,417 shares of the company's stock worth $30,199,000 after purchasing an additional 55,628 shares during the period. Caxton Associates LLP purchased a new stake in Newmark Group in the first quarter worth about $276,000. Finally, Jane Street Group LLC lifted its holdings in Newmark Group by 148.3% in the first quarter. Jane Street Group LLC now owns 390,633 shares of the company's stock worth $4,754,000 after buying an additional 233,330 shares during the period. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

Newmark Group Company Profile

Newmark Group, Inc is a publicly traded commercial real estate advisory firm headquartered in New York City. The company provides a comprehensive suite of services to real estate investors, occupiers and developers, including leasing advisory, property management, capital markets placement, loan servicing, valuation and advisory services. Newmark's platform integrates local market expertise with national reach to support clients across diverse property types such as office, industrial, retail, multifamily and specialty assets.

Operating across two principal segments—global corporate services and capital markets & property-level services—Newmark delivers tailored solutions encompassing tenant representation, landlord leasing, investment sales, debt and equity financing, and appraisal services.

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