ValuEngine Upgrades Newmark Group (NASDAQ:NMRK) to “Hold”

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

Several other equities analysts have also recently weighed in on NMRK. Compass Point began coverage on shares of Newmark Group in a research report on Wednesday, July 10th. They issued a buy rating and a $14.00 price target on the stock. Zacks Investment Research cut shares of Newmark Group from a buy rating to a hold rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Newmark Group presently has an average rating of Buy and a consensus target price of $13.75.

Shares of NMRK traded down $0.57 during trading hours on Thursday, hitting $9.42. The stock had a trading volume of 1,024,050 shares, compared to its average volume of 630,089. Newmark Group has a 1-year low of $7.02 and a 1-year high of $13.88. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 6.20, a P/E/G ratio of 0.72 and a beta of 1.19. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $9.33.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.02. Newmark Group had a net margin of 4.86% and a return on equity of 41.41%. The business had revenue of $551.50 million for the quarter, compared to analysts’ expectations of $513.63 million. The company’s revenue was up 18.2% on a year-over-year basis. On average, research analysts forecast that Newmark Group will post 1.63 EPS for the current fiscal year.

In other news, CEO Barry M. Gosin bought 561,084 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average price of $7.71 per share, with a total value of $4,325,957.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 90.95% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of NMRK. Steward Partners Investment Advisory LLC bought a new position in shares of Newmark Group during the 2nd quarter worth approximately $32,000. Coastal Investment Advisors Inc. bought a new position in shares of Newmark Group during the 2nd quarter worth approximately $43,000. Advisor Group Inc. bought a new position in shares of Newmark Group during the 2nd quarter worth approximately $83,000. DekaBank Deutsche Girozentrale bought a new position in shares of Newmark Group during the 2nd quarter worth approximately $109,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Newmark Group during the 2nd quarter worth approximately $111,000. 56.41% of the stock is currently owned by hedge funds and other institutional investors.

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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