Newmark Group (NASDAQ:NMRK) Sees Unusually-High Trading Volume – Here’s What Happened

Newmark Group, Inc. (NASDAQ:NMRK) shares saw strong trading volume on Wednesday . 1,607,822 shares changed hands during mid-day trading, an increase of 42% from the previous session’s volume of 1,131,061 shares.The stock last traded at $14.85 and had previously closed at $14.64.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods upgraded Newmark Group from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $13.50 to $16.50 in a report on Thursday, September 5th. Finally, Wolfe Research raised Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a research report on Friday, August 16th.

Newmark Group Price Performance

The company’s 50-day moving average is $13.93 and its 200-day moving average is $11.71. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 66.55 and a beta of 2.01. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.49 and a quick ratio of 0.49.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $633.40 million for the quarter, compared to analyst estimates of $630.27 million. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. Newmark Group’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the business earned $0.18 EPS. On average, research analysts expect that Newmark Group, Inc. will post 1.15 earnings per share for the current year.

Newmark Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.12 annualized dividend and a yield of 0.82%. Newmark Group’s dividend payout ratio is presently 54.55%.

Hedge Funds Weigh In On Newmark Group

Several hedge funds and other institutional investors have recently modified their holdings of NMRK. Vanguard Group Inc. lifted its position in Newmark Group by 3.6% during the first quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock valued at $227,067,000 after buying an additional 702,233 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Newmark Group by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company’s stock valued at $68,399,000 after acquiring an additional 480,047 shares in the last quarter. Paulson & CO. Inc. boosted its position in Newmark Group by 133.5% during the 4th quarter. Paulson & CO. Inc. now owns 3,000,000 shares of the company’s stock worth $32,880,000 after purchasing an additional 1,715,375 shares during the period. Leeward Investments LLC MA increased 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 purchasing an additional 101,426 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in Newmark Group by 4.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,311,813 shares of the company’s stock valued at $14,377,000 after purchasing an additional 54,909 shares during the period. 58.42% of the stock is owned by institutional investors and hedge funds.

Newmark Group Company Profile

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.