Wall Street Zen Downgrades Newmark Group (NASDAQ:NMRK) to Hold

Newmark Group (NASDAQ:NMRK - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler decreased their price target on shares of Newmark Group from $19.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, May 5th. The Goldman Sachs Group decreased 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 note on Wednesday, March 19th. 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 report on Friday, May 23rd. Finally, Keefe, Bruyette & Woods reduced their price target on Newmark Group from $14.50 to $14.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.25.

Newmark Group Price Performance

Shares of Newmark Group stock traded up $0.19 during trading on Friday, hitting $11.35. The stock had a trading volume of 658,157 shares, compared to its average volume of 1,147,059. Newmark Group has a fifty-two week low of $9.64 and a fifty-two week high of $16.10. 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 market cap of $2.09 billion, a P/E ratio of 32.43 and a beta of 1.94. The business has a fifty day moving average of $10.98 and a two-hundred day moving average of $12.76.

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

Institutional Trading of Newmark Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Newmark Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 21,114,662 shares of the company's stock worth $270,479,000 after buying an additional 83,094 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Newmark Group by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,374,705 shares of the company's stock worth $81,660,000 after purchasing an additional 88,618 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Newmark Group by 89.7% in 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 in the last quarter. Principal Financial Group Inc. grew its stake in Newmark Group by 44.9% in the 4th quarter. Principal Financial Group Inc. now owns 3,098,429 shares of the company's stock worth $39,691,000 after buying an additional 960,799 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Newmark Group by 103.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,948,511 shares of the company's stock valued at $37,770,000 after purchasing an additional 1,502,372 shares in the last quarter. 58.42% of the stock is 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.

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