Newmark Group (NASDAQ:NMRK) Shares Up 5.3%

Newmark Group Inc (NASDAQ:NMRK) shares shot up 5.3% during mid-day trading on Monday . The company traded as high as $10.13 and last traded at $9.95, 1,293,704 shares were traded during mid-day trading. An increase of 31% from the average session volume of 984,270 shares. The stock had previously closed at $9.45.

A number of research firms have recently issued reports on NMRK. Bank of America began coverage on Newmark Group in a research report on Friday, October 18th. They issued a “buy” rating and a $15.00 price objective for the company. Zacks Investment Research raised Newmark Group from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Wednesday. ValuEngine raised Newmark Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Compass Point began coverage on Newmark Group in a research report on Wednesday, July 10th. They issued a “buy” rating and a $14.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $14.80.

The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 6.55, a PEG ratio of 0.70 and a beta of 1.24. The stock has a 50-day moving average price of $9.32 and a 200-day moving average price of $8.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.46 and a quick ratio of 0.46.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. Newmark Group had a return on equity of 40.30% and a net margin of 5.69%. The company had revenue of $551.50 million during the quarter, compared to analysts’ expectations of $513.63 million. Newmark Group’s revenue was up 18.2% on a year-over-year basis. Equities analysts forecast that Newmark Group Inc will post 1.64 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. bought a new position in shares of Newmark Group during the second quarter worth approximately $187,462,000. BlackRock Inc. bought a new position in shares of Newmark Group during the second quarter worth approximately $86,478,000. Westfield Capital Management Co. LP bought a new position in shares of Newmark Group during the second quarter worth approximately $32,718,000. Bank of New York Mellon Corp bought a new position in shares of Newmark Group during the second quarter worth approximately $30,001,000. Finally, EJF Capital LLC bought a new position in shares of Newmark Group during the second quarter worth approximately $27,331,000. Institutional investors own 57.24% of the company’s stock.

About Newmark Group (NASDAQ:NMRK)

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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