Newmark Group (NASDAQ:NMRK) Sees Strong Trading Volume After Analyst Upgrade

Newmark Group, Inc. (NASDAQ:NMRK) saw unusually-high trading volume on Thursday after Keefe, Bruyette & Woods raised their price target on the stock from $11.25 to $13.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Approximately 2,050,888 shares were traded during mid-day trading, an increase of 103% from the previous session’s volume of 1,012,168 shares.The stock last traded at $12.28 and had previously closed at $11.92.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NMRK. Vanguard Group Inc. grew its stake in shares of Newmark Group by 3.6% in the first quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock worth $227,067,000 after acquiring an additional 702,233 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Newmark Group by 10.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,220,485 shares of the company’s stock valued at $68,178,000 after acquiring an additional 570,935 shares during the last quarter. Paulson & CO. Inc. lifted its stake in Newmark Group by 133.5% during the fourth quarter. Paulson & CO. Inc. now owns 3,000,000 shares of the company’s stock worth $32,880,000 after purchasing an additional 1,715,375 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Newmark Group by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,969,167 shares of the company’s stock valued at $21,582,000 after purchasing an additional 81,209 shares during the last quarter. Finally, Leeward Investments LLC MA raised its holdings in Newmark Group by 5.6% during the second quarter. Leeward Investments LLC MA now owns 1,907,574 shares of the company’s stock worth $19,514,000 after purchasing an additional 101,426 shares in the last quarter. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Newmark Group Stock Performance

The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average price is $10.53 and its 200-day moving average price is $10.41. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 54.18 and a beta of 2.02.

Newmark Group (NASDAQ:NMRK) last posted its earnings results on Friday, May 3rd. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). The firm had revenue of $546.50 million during the quarter, compared to analysts’ expectations of $526.07 million. Newmark Group had a net margin of 1.47% and a return on equity of 17.03%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 earnings per share. Analysts expect that Newmark Group, Inc. will post 1.12 earnings per share for the current year.

Newmark Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.12 annualized dividend and a dividend yield of 0.97%. Newmark Group’s dividend payout ratio (DPR) is 54.55%.

Newmark Group Company Profile

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.