Newmark Group Inc (NASDAQ:NMRK) rose 6.9% on Thursday . The stock traded as high as $4.63 and last traded at $4.62. Approximately 1,427,268 shares were traded during mid-day trading, a decline of 0% from the average daily volume of 1,432,172 shares. The stock had previously closed at $4.32.
NMRK has been the subject of several research analyst reports. Zacks Investment Research cut Newmark Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. Wedbush dropped their price objective on Newmark Group from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, September 1st. BidaskClub cut Newmark Group from a “hold” rating to a “sell” rating in a report on Wednesday, September 23rd. Finally, Raymond James reiterated a “buy” rating on shares of Newmark Group in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Newmark Group currently has an average rating of “Hold” and an average price target of $6.75.
The firm has a market cap of $828.16 million, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 0.46 and a beta of 1.63. The stock has a fifty day simple moving average of $4.37 and a 200 day simple moving average of $4.31. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.47 and a current ratio of 0.47.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Wednesday, August 26th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Tuesday, August 25th. Newmark Group’s payout ratio is 2.47%.
Several hedge funds have recently added to or reduced their stakes in the company. EJF Capital LLC boosted its stake in shares of Newmark Group by 21.0% in the 1st quarter. EJF Capital LLC now owns 3,088,781 shares of the company’s stock worth $13,127,000 after buying an additional 536,024 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Newmark Group by 27.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,867,135 shares of the company’s stock worth $13,934,000 after buying an additional 616,088 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of Newmark Group by 33.6% in the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,358,190 shares of the company’s stock worth $10,022,000 after buying an additional 592,600 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Newmark Group by 2.5% in the 2nd quarter. Prudential Financial Inc. now owns 1,923,293 shares of the company’s stock worth $9,347,000 after buying an additional 47,356 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Newmark Group by 2.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,567,656 shares of the company’s stock worth $7,619,000 after buying an additional 38,629 shares during the last quarter. Hedge funds and other institutional investors own 54.95% of the company’s stock.
About Newmark Group (NASDAQ:NMRK)
Newmark Group, Inc provides commercial real estate services in the United States and internationally. Its investor/owner services and products include capital markets, such as investment sales; and agency leasing, property management, valuation and advisory, and diligence and underwriting, as well as government sponsored enterprise lending, loan servicing, debt and structured finance, and loan sales under the Newmark Knight Frank name.
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