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

Newmark Group, Inc. (NASDAQ:NMRK) shares saw an uptick in 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. 2,050,888 shares changed hands during 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.

Hedge Funds Weigh In On Newmark Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp bought a new position in Newmark Group during the second quarter valued at about $33,000. Leeward Investments LLC MA lifted its holdings in Newmark Group by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 1,907,574 shares of the company’s stock valued at $19,514,000 after acquiring an additional 101,426 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Newmark Group by 251.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock valued at $7,246,000 after purchasing an additional 506,510 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Newmark Group by 4.6% in the 2nd quarter. Diversified Trust Co now owns 24,329 shares of the company’s stock worth $249,000 after purchasing an additional 1,080 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in Newmark Group by 30.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 16,484 shares of the company’s stock valued at $180,000 after purchasing an additional 3,843 shares during the last quarter. 58.42% of the stock is owned by institutional investors.

Newmark Group Trading Up 3.6 %

The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 54.18 and a beta of 2.02. The firm’s 50 day moving average is $10.53 and its 200 day moving average is $10.41.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data 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 company had revenue of $546.50 million for the quarter, compared to the consensus estimate of $526.07 million. Newmark Group had a return on equity of 17.03% and a net margin of 1.47%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 earnings per share. Equities analysts forecast that Newmark Group, Inc. will post 1.12 earnings per share for the current year.

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.12 dividend on an annualized basis and a yield of 0.97%. Newmark Group’s dividend payout ratio is currently 54.55%.

About Newmark Group

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.