Newmark Group (NASDAQ:NMRK) Sees Large Volume Increase

Shares of Newmark Group, Inc. (NASDAQ:NMRK) saw unusually-high trading volume on Tuesday . Approximately 3,111,527 shares were traded during trading, an increase of 197% from the previous session’s volume of 1,048,053 shares.The stock last traded at $10.21 and had previously closed at $10.10.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Newmark Group from $11.00 to $11.25 and gave the stock a “market perform” rating in a research report on Monday, February 26th. Piper Sandler reiterated an “overweight” rating and set a $13.00 price target on shares of Newmark Group in a research note on Tuesday, March 26th.

Newmark Group Stock Down 1.1 %

The stock’s fifty day moving average is $10.45 and its two-hundred day moving average is $9.54. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35. The firm has a market cap of $1.72 billion, a P/E ratio of 45.91 and a beta of 1.99.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Newmark Group had a return on equity of 17.11% and a net margin of 1.47%. The company had revenue of $546.50 million for the quarter, compared to the consensus estimate of $526.07 million. During the same period in the prior year, the firm posted $0.15 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. As a group, research analysts anticipate that Newmark Group, Inc. will post 1.12 earnings per share for the current year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, May 16th. Newmark Group’s payout ratio is presently 54.55%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Riverview Trust Co purchased a new stake in shares of Newmark Group during the 1st quarter valued at about $29,000. DekaBank Deutsche Girozentrale bought a new position in shares of Newmark Group in the third quarter worth about $44,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Newmark Group during the 4th quarter valued at approximately $119,000. AXQ Capital LP purchased a new position in Newmark Group during the third quarter valued at approximately $76,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Newmark Group in the 1st quarter worth $135,000. Hedge funds and other institutional investors own 58.42% of the company’s stock.

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.