Newmark Group (NASDAQ:NMRK) Trading 7% Higher – Here’s What Happened

Newmark Group, Inc. (NASDAQ:NMRK) shares rose 7% during trading on Wednesday . The stock traded as high as $15.55 and last traded at $15.7250. Approximately 115,860 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,478,593 shares. The stock had previously closed at $14.70.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NMRK shares. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 price objective 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. Citizens Jmp increased their price target on shares of Newmark Group from $21.00 to $22.00 and gave the company a “market outperform” rating in a research report on Friday, May 1st. Wall Street Zen upgraded shares of Newmark Group from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Newmark Group from $18.00 to $18.50 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.62.

Newmark Group Trading Up 2.5%

The stock’s fifty day simple moving average is $15.00 and its 200-day simple moving average is $15.55. The firm has a market cap of $2.82 billion, a PE ratio of 19.63 and a beta of 1.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.48 and a quick ratio of 0.48.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.08 earnings per share for the quarter. Newmark Group had a net margin of 4.30% and a return on equity of 26.23%. The firm had revenue of $846.52 million for the quarter. On average, sell-side analysts forecast that Newmark Group, Inc. will post 1.91 earnings per share for the current year.

Newmark Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.5%. The ex-dividend date was Thursday, May 14th. This is a boost from Newmark Group’s previous quarterly dividend of $0.03. Newmark Group’s dividend payout ratio (DPR) is presently 29.63%.

Institutional Investors Weigh In On Newmark Group

Institutional investors and hedge funds have recently modified their holdings of the company. Handelsbanken Fonder AB increased its holdings in Newmark Group by 30.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 62,917 shares of the company’s stock worth $951,000 after buying an additional 14,800 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Newmark Group during the 2nd quarter valued at approximately $4,415,000. Bank of America Corp DE lifted its stake in Newmark Group by 30.6% during the 1st quarter. Bank of America Corp DE now owns 543,309 shares of the company’s stock valued at $8,144,000 after acquiring an additional 127,365 shares during the period. Amundi purchased a new stake in shares of Newmark Group in the 1st quarter valued at $305,000. Finally, California State Teachers Retirement System boosted its holdings in shares of Newmark Group by 25.8% in the 1st quarter. California State Teachers Retirement System now owns 177,104 shares of the company’s stock valued at $2,655,000 after acquiring an additional 36,365 shares during the last quarter. Institutional investors and hedge funds own 58.42% of the company’s stock.

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.