Newmark Group (NASDAQ:NMRK) Stock Price Up 7% – Should You Buy?

Newmark Group, Inc. (NASDAQ:NMRK) shot up 7% on Wednesday . The stock traded as high as $15.55 and last traded at $15.7250. 115,860 shares traded hands during 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

NMRK has been the subject of a number of analyst reports. Citizens Jmp upped their price objective on shares of Newmark Group from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Friday, May 1st. Keefe, Bruyette & Woods boosted their price target on shares of Newmark Group from $18.00 to $18.50 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Wall Street Zen upgraded shares of Newmark Group from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 price target on shares of Newmark Group in a research note on Monday, June 29th. Finally, Weiss Ratings raised Newmark Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $19.62.

Newmark Group Stock Up 6.0%

The company has a market cap of $2.77 billion, a PE ratio of 19.24 and a beta of 1.68. The firm has a 50-day simple moving average of $15.04 and a two-hundred day simple moving average of $15.58. 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 posted its quarterly earnings data on Friday, May 8th. The company reported $0.08 EPS for the quarter. The firm had revenue of $846.52 million during the quarter. Newmark Group had a return on equity of 26.23% and a net margin of 4.30%. Research analysts anticipate that Newmark Group, Inc. will post 1.91 earnings per share for the current fiscal year.

Newmark Group Increases Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NMRK. Balyasny Asset Management L.P. increased its stake in shares of Newmark Group by 422.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,039,976 shares of the company’s stock valued at $35,373,000 after acquiring an additional 1,649,189 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Newmark Group by 319.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,604,326 shares of the company’s stock worth $27,819,000 after purchasing an additional 1,222,069 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Newmark Group during the second quarter worth approximately $14,580,000. Ameriprise Financial Inc. boosted its holdings in shares of Newmark Group by 88.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,520,314 shares of the company’s stock valued at $30,622,000 after purchasing an additional 1,186,191 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Newmark Group by 194.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,575,475 shares of the company’s stock valued at $29,383,000 after purchasing an additional 1,039,798 shares during the last quarter. Hedge funds and other institutional investors 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.