Piper Sandler Reiterates Overweight Rating for Newmark Group (NASDAQ:NMRK)

Newmark Group (NASDAQ:NMRK)‘s stock had its “overweight” rating reiterated by analysts at Piper Sandler in a report released on Tuesday, Benzinga reports. They currently have a $13.00 price target on the stock. Piper Sandler’s price objective indicates a potential upside of 17.33% from the stock’s current price.

Separately, Keefe, Bruyette & Woods upped their price target on shares of Newmark Group from $11.00 to $11.25 and gave the stock a “market perform” rating in a report on Monday, February 26th.

Newmark Group Trading Up 1.7 %

NASDAQ:NMRK opened at $11.08 on Tuesday. The firm’s 50 day moving average is $10.55 and its 200 day moving average is $8.76. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35. Newmark Group has a 12 month low of $5.07 and a 12 month high of $11.39. The stock has a market capitalization of $1.91 billion, a PE ratio of 44.32 and a beta of 1.97.

Newmark Group (NASDAQ:NMRK) last issued its earnings results on Thursday, February 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. The business had revenue of $747.70 million for the quarter, compared to analysts’ expectations of $743.53 million. Newmark Group had a net margin of 1.72% and a return on equity of 17.03%. During the same quarter in the previous year, the firm posted $0.32 EPS. Sell-side analysts expect that Newmark Group will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in Newmark Group by 65.4% during the third quarter. Tower Research Capital LLC TRC now owns 5,157 shares of the company’s stock valued at $33,000 after buying an additional 2,040 shares during the period. Captrust Financial Advisors boosted its position in Newmark Group by 44.0% during the second quarter. Captrust Financial Advisors now owns 3,849 shares of the company’s stock valued at $37,000 after buying an additional 1,176 shares during the period. Bessemer Group Inc. boosted its position in Newmark Group by 6,298.8% during the fourth quarter. Bessemer Group Inc. now owns 5,183 shares of the company’s stock valued at $41,000 after buying an additional 5,102 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Newmark Group during the third quarter valued at about $44,000. Finally, Lazard Asset Management LLC boosted its position in Newmark Group by 117.8% during the third quarter. Lazard Asset Management LLC now owns 7,161 shares of the company’s stock valued at $46,000 after buying an additional 3,873 shares during the period. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

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.