Newmark Group (NASDAQ:NMRK) Sets New 1-Year Low – Time to Sell?

Shares of Newmark Group, Inc. (NASDAQ:NMRK) hit a new 52-week low on Tuesday. The company traded as low as $11.25 and last traded at $11.2650, with a volume of 18,256 shares traded. The stock had previously closed at $11.34.

Wall Street Analyst Weigh In

NMRK has been the topic of several research analyst reports. Wall Street Zen cut Newmark Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Zacks Research lowered Newmark Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 18th. Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 price target (down from $14.00) on shares of Newmark Group in a research note on Monday, October 19th. Keefe, Bruyette & Woods cut their price target on shares of Newmark Group from $17.50 to $16.00 and set an “outperform” rating on the stock in a report on Friday, October 9th. Finally, UBS Group set a $22.00 price objective on shares of Newmark Group in a research report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Newmark Group has an average rating of “Moderate Buy” and a consensus target price of $17.60.

Newmark Group Trading Up 5.1%

The company has a market capitalization of $2.19 billion, a P/E ratio of 14.89 and a beta of 1.76. The stock’s 50 day moving average is $13.49 and its 200-day moving average is $14.92. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.55 and a quick ratio of 0.55.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. Newmark Group had a net margin of 4.11% and a return on equity of 27.07%. The business had revenue of $888.42 million during the quarter, compared to analyst estimates of $865.24 million. During the same period last year, the business posted $0.31 earnings per share. Newmark Group’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Newmark Group, Inc. will post 1.94 earnings per share for the current year.

Institutional Investors Weigh In On Newmark Group

Several hedge funds have recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Newmark Group by 6.6% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 39,000 shares of the company’s stock worth $478,000 after buying an additional 2,400 shares during the last quarter. Access Investment Management LLC increased its position in Newmark Group by 26.0% during the 3rd quarter. Access Investment Management LLC now owns 72,598 shares of the company’s stock valued at $890,000 after buying an additional 15,000 shares in the last quarter. Signaturefd LLC increased its position in Newmark Group by 87.4% during the 3rd quarter. Signaturefd LLC now owns 5,863 shares of the company’s stock valued at $72,000 after buying an additional 2,735 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Newmark Group by 49.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 28,422 shares of the company’s stock valued at $348,000 after buying an additional 9,426 shares in the last quarter. Finally, Edge Wealth Management LLC raised its stake in Newmark Group by 19.7% during the third quarter. Edge Wealth Management LLC now owns 200,572 shares of the company’s stock valued at $2,456,000 after buying an additional 33,009 shares during the last quarter. 58.42% of the stock is currently owned by institutional investors.

Newmark Group Company Profile

Newmark Group, Inc is a global commercial real estate services company that provides advisory, transaction, and management services to occupiers, owners, investors, and developers. Its services cover office, industrial, retail, multifamily, hospitality, and other commercial property sectors.

The company assists clients with leasing, investment sales, acquisition and disposition advisory, debt and structured finance, valuation, consulting, and property and facilities management. Newmark also provides corporate real estate services, workplace strategy, capital markets advice, and technology-enabled data and research solutions.

Newmark serves clients through operations in major real estate markets across North America, Europe, Asia-Pacific, and other international regions.