Newmark Group (NASDAQ:NMRK) Raised to Strong-Buy at Zacks Research

Newmark Group (NASDAQ:NMRK) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research firms have also weighed in on NMRK. Weiss Ratings upgraded Newmark Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Piper Sandler reissued an “overweight” rating and issued a $19.00 price target on shares of Newmark Group in a research report on Monday, June 29th. Keefe, Bruyette & Woods upped their price objective on Newmark Group from $18.00 to $18.50 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Citizens Jmp raised their price objective on Newmark Group from $21.00 to $22.00 and gave the company a “market outperform” rating in a research report on Friday, May 1st. Finally, Wall Street Zen lowered Newmark Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Newmark Group presently has a consensus rating of “Buy” and a consensus target price of $19.62.

Newmark Group Trading Up 2.3%

NASDAQ:NMRK opened at $15.39 on Thursday. Newmark Group has a one year low of $13.31 and a one year high of $19.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a market cap of $2.73 billion, a P/E ratio of 19.00 and a beta of 1.68. The firm has a 50-day simple moving average of $14.97 and a 200-day simple moving average of $15.49.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.08 earnings per share for the quarter. Newmark Group had a net margin of 4.30% and a return on equity of 26.23%. The firm had revenue of $846.52 million during the quarter. Equities analysts anticipate that Newmark Group will post 1.99 EPS for the current fiscal year.

Institutional Trading of Newmark Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of Newmark Group by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,343,384 shares of the company’s stock worth $80,095,000 after purchasing an additional 227,649 shares in the last quarter. Ameriprise Financial Inc. increased its position in Newmark Group by 88.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,520,314 shares of the company’s stock valued at $30,622,000 after buying an additional 1,186,191 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Newmark Group by 2.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,481,417 shares of the company’s stock valued at $30,199,000 after buying an additional 55,628 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in Newmark Group by 422.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,039,976 shares of the company’s stock valued at $35,373,000 after buying an additional 1,649,189 shares during the last quarter. Finally, Systematic Financial Management LP raised its stake in Newmark Group by 7.7% in the first quarter. Systematic Financial Management LP now owns 1,692,518 shares of the company’s stock valued at $25,371,000 after buying an additional 121,011 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.