Newmark Group (NASDAQ:NMRK) Shares Gap Down – Here’s What Happened

Newmark Group, Inc. (NASDAQ:NMRK) gapped down before the market opened on Tuesday . The stock had previously closed at $14.65, but opened at $13.55. Newmark Group shares last traded at $14.62, with a volume of 303,131 shares traded.

Analysts Set New Price Targets

NMRK has been the subject of several research analyst reports. Wolfe Research upgraded 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. Keefe, Bruyette & Woods upgraded shares of Newmark Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $13.50 to $16.50 in a report on Thursday, September 5th. Finally, Piper Sandler boosted their price objective on shares of Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd.

Newmark Group Trading Up 3.0 %

The firm has a market cap of $2.59 billion, a PE ratio of 56.35 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. The business has a 50-day moving average price of $14.79 and a two-hundred day moving average price of $12.28.

Newmark Group (NASDAQ:NMRK) last announced its earnings results on Friday, August 2nd. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $633.40 million during the quarter, compared to analysts’ expectations of $630.27 million. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 earnings per share. Analysts forecast that Newmark Group, Inc. will post 1.15 EPS for the current year.

Institutional Investors Weigh In On Newmark Group

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in shares of Newmark Group by 1,017.4% in the third quarter. Principal Financial Group Inc. now owns 2,137,630 shares of the company’s stock worth $33,197,000 after acquiring an additional 1,946,322 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Newmark Group by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock valued at $227,067,000 after purchasing an additional 702,233 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Newmark Group by 1,595.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 713,621 shares of the company’s stock valued at $7,914,000 after purchasing an additional 671,521 shares during the period. Assenagon Asset Management S.A. increased its stake in Newmark Group by 251.0% in the second quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock valued at $7,246,000 after purchasing an additional 506,510 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Newmark Group by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company’s stock worth $68,399,000 after buying an additional 480,047 shares during the period. Institutional investors and hedge funds own 58.42% of the company’s stock.

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.