Newmark Group (NASDAQ:NMRK) Shares Down 10.4% – Here’s Why

Newmark Group, Inc. (NASDAQ:NMRK) shares dropped 10.4% during mid-day trading on Wednesday . The stock traded as low as $15.54 and last traded at $15.4690. Approximately 518,971 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 1,043,425 shares. The stock had previously closed at $17.27.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Barclays assumed coverage on shares of Newmark Group in a research note on Tuesday, December 2nd. They set an “overweight” rating and a $21.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Newmark Group in a research report on Thursday, January 22nd. Wall Street Zen raised Newmark Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Citigroup restated a “market outperform” rating on shares of Newmark Group in a research note on Thursday, December 18th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Newmark Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.43.

Newmark Group Trading Down 13.4%

The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2.70 billion, a PE ratio of 26.23 and a beta of 1.91. The stock’s fifty day simple moving average is $17.31 and its 200 day simple moving average is $17.50.

Institutional Trading of Newmark Group

A number of hedge funds and other institutional investors have recently bought and sold shares of NMRK. Royal Bank of Canada lifted its position in shares of Newmark Group by 16.5% during the 1st quarter. Royal Bank of Canada now owns 44,977 shares of the company’s stock valued at $546,000 after buying an additional 6,375 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Newmark Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,330 shares of the company’s stock worth $953,000 after purchasing an additional 3,430 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Newmark Group by 2.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,481,417 shares of the company’s stock worth $30,199,000 after purchasing an additional 55,628 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Newmark Group during the 1st quarter valued at $276,000. Finally, Jane Street Group LLC lifted its stake in shares of Newmark Group by 148.3% during the 1st quarter. Jane Street Group LLC now owns 390,633 shares of the company’s stock valued at $4,754,000 after buying an additional 233,330 shares in the last quarter. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Newmark Group Company Profile

Newmark Group, Inc is a publicly traded commercial real estate advisory firm headquartered in New York City. The company provides a comprehensive suite of services to real estate investors, occupiers and developers, including leasing advisory, property management, capital markets placement, loan servicing, valuation and advisory services. Newmark’s platform integrates local market expertise with national reach to support clients across diverse property types such as office, industrial, retail, multifamily and specialty assets.

Operating across two principal segments—global corporate services and capital markets & property-level services—Newmark delivers tailored solutions encompassing tenant representation, landlord leasing, investment sales, debt and equity financing, and appraisal services.