Newmark Group (NASDAQ:NMRK) Raised to Hold at ValuEngine

ValuEngine upgraded shares of Newmark Group (NASDAQ:NMRK) from a sell rating to a hold rating in a report issued on Thursday morning, ValuEngine reports.

NMRK has been the subject of a number of other reports. Zacks Investment Research lowered shares of Newmark Group from a buy rating to a hold rating in a research report on Wednesday, July 10th. Compass Point initiated coverage on shares of Newmark Group in a report on Wednesday, July 10th. They set a buy rating and a $14.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Newmark Group currently has an average rating of Buy and an average target price of $13.75.

Shares of NMRK traded down $0.57 during mid-day trading on Thursday, reaching $9.42. 1,024,050 shares of the stock traded hands, compared to its average volume of 679,220. The business has a fifty day simple moving average of $9.33. The firm has a market cap of $1.78 billion, a P/E ratio of 6.20, a price-to-earnings-growth ratio of 0.73 and a beta of 1.19. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.60. Newmark Group has a 1 year low of $7.02 and a 1 year high of $13.88.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The firm had revenue of $551.50 million during the quarter, compared to analyst estimates of $513.63 million. Newmark Group had a net margin of 5.69% and a return on equity of 40.24%. Newmark Group’s revenue for the quarter was up 18.2% compared to the same quarter last year. Equities analysts anticipate that Newmark Group will post 1.63 EPS for the current fiscal year.

In other Newmark Group news, CEO Barry M. Gosin purchased 561,084 shares of the stock in a transaction on Tuesday, May 14th. The stock was acquired at an average cost of $7.71 per share, with a total value of $4,325,957.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 90.95% of the company’s stock.

A number of institutional investors have recently bought and sold shares of NMRK. Zeke Capital Advisors LLC acquired a new position in Newmark Group during the second quarter worth approximately $485,000. Bowling Portfolio Management LLC acquired a new position in shares of Newmark Group in the second quarter valued at approximately $1,153,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Newmark Group in the second quarter valued at approximately $32,000. Creative Planning acquired a new position in shares of Newmark Group in the second quarter valued at approximately $122,000. Finally, Systematic Financial Management LP acquired a new position in shares of Newmark Group in the second quarter valued at approximately $14,077,000. 56.41% of the stock is owned by institutional investors and hedge funds.

Newmark Group Company Profile

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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