Newmark Group (NASDAQ:NMRK) Reaches New 1-Year Low – Should You Sell?

Shares of Newmark Group, Inc. (NASDAQ:NMRK) reached a new 52-week low during trading on Wednesday. The stock traded as low as $11.03 and last traded at $11.3780, with a volume of 44,887 shares changing hands. The stock had previously closed at $11.32.

Analyst Ratings Changes

Several research analysts recently weighed in on NMRK shares. Citizens Jmp lowered their price objective on Newmark Group from $22.00 to $17.00 and set a “market outperform” rating for the company in a research report on Thursday, October 22nd. Wall Street Zen downgraded Newmark Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Weiss Ratings raised Newmark Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 13th. Zacks Research cut Newmark Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 29th. Finally, Piper Sandler downgraded Newmark Group from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $14.00 to $13.00 in a research report on Monday, October 19th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Newmark Group currently has an average rating of “Hold” and an average target price of $17.60.

Newmark Group Stock Down 3.6%

The business’s 50 day moving average price is $12.61 and its 200-day moving average price is $14.62. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.46. The firm has a market capitalization of $1.97 billion, a PE ratio of 5.99 and a beta of 1.80.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. Newmark Group had a net margin of 4.07% and a return on equity of 27.43%. The firm had revenue of $973.20 million during the quarter, compared to analysts’ expectations of $957.78 million. During the same quarter last year, the company posted $0.42 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, equities research analysts forecast that Newmark Group, Inc. will post 1.86 earnings per share for the current year.

Newmark Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, November 13th. Newmark Group’s dividend payout ratio is 28.92%.

Institutional Investors Weigh In On Newmark Group

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC purchased a new stake in shares of Newmark Group in the 1st quarter valued at $5,435,000. Assenagon Asset Management S.A. purchased a new position in Newmark Group during the 2nd quarter valued at about $4,415,000. Dimensional Fund Advisors LP grew its position in Newmark Group by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,343,384 shares of the company’s stock valued at $80,095,000 after acquiring an additional 227,649 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Newmark Group by 18.9% during the first quarter. Bank of New York Mellon Corp now owns 1,173,058 shares of the company’s stock worth $17,584,000 after purchasing an additional 186,236 shares during the period. Finally, First Trust Advisors LP increased its stake in Newmark Group by 40.8% during the third quarter. First Trust Advisors LP now owns 533,090 shares of the company’s stock worth $6,536,000 after purchasing an additional 154,514 shares during the period. 58.42% of the stock is owned by institutional investors and hedge funds.

About Newmark Group

Newmark Group, Inc. is a commercial real estate services and advisory firm serving property owners, occupiers, investors and developers. Its services include commercial leasing, investment sales, debt and structured finance, property and facilities management, valuation, consulting, project management and workplace strategy. The company works across major property types, including office, industrial, retail, multifamily and hospitality. It serves clients throughout the United States and in international markets through its global offices and network.