Newmark Group (NASDAQ:NMRK) Sees Strong Trading Volume – Time to Buy?

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

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

Newmark Group Stock Up 2.9 %

The firm has a market capitalization of $2.52 billion, a PE ratio of 56.43 and a beta of 2.01. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $13.99 and a 200-day moving average price of $11.75.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. Newmark Group had a return on equity of 17.78% and a net margin of 1.75%. The company had revenue of $633.40 million during the quarter, compared to analyst estimates of $630.27 million. During the same period in the prior year, the business posted $0.18 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts forecast that Newmark Group, Inc. will post 1.15 earnings per share for the current fiscal 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. This represents a $0.12 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date was Friday, August 16th. Newmark Group’s dividend payout ratio (DPR) is 46.16%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NMRK. Riverview Trust Co acquired a new position in Newmark Group during the first quarter worth $29,000. Fifth Third Bancorp acquired a new stake in Newmark Group in the second quarter valued at $33,000. EntryPoint Capital LLC raised its stake in Newmark Group by 35.5% in the first quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock valued at $49,000 after buying an additional 1,159 shares in the last quarter. Black Diamond Financial LLC acquired a new stake in Newmark Group in the second quarter valued at $102,000. Finally, Evergreen Capital Management LLC acquired a new stake in Newmark Group in the second quarter valued at $107,000. 58.42% of the stock is currently owned by institutional investors and hedge funds.

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.