Newmark Group (NASDAQ:NMRK) Downgraded to “Peer Perform” Rating by Wolfe Research

Newmark Group (NASDAQ:NMRK) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “peer perform” rating in a note issued to investors on Monday,Briefing.com Automated Import reports.

A number of other brokerages have also recently weighed in on NMRK. Keefe, Bruyette & Woods upgraded shares of Newmark Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $13.50 to $16.50 in a research report on Thursday, September 5th. Piper Sandler boosted their price target on shares of Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd.

Newmark Group Stock Performance

NASDAQ NMRK opened at $15.28 on Monday. The stock’s fifty day moving average is $15.11 and its two-hundred day moving average is $12.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market capitalization of $2.61 billion, a P/E ratio of 50.93 and a beta of 2.01. Newmark Group has a fifty-two week low of $7.72 and a fifty-two week high of $16.10.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. The company had revenue of $685.90 million during the quarter, compared to analyst estimates of $682.07 million. During the same period in the prior year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, research analysts anticipate that Newmark Group will post 1.15 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Coldstream Capital Management Inc. purchased a new position in shares of Newmark Group in the 3rd quarter valued at about $181,000. Geode Capital Management LLC grew its position in Newmark Group by 5.7% during the third quarter. Geode Capital Management LLC now owns 3,554,867 shares of the company’s stock worth $55,216,000 after buying an additional 190,974 shares during the period. Barclays PLC increased its holdings in Newmark Group by 352.8% in the third quarter. Barclays PLC now owns 227,099 shares of the company’s stock valued at $3,526,000 after buying an additional 176,947 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Newmark Group by 49.4% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 137,358 shares of the company’s stock valued at $2,133,000 after acquiring an additional 45,426 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Newmark Group during the 3rd quarter worth approximately $390,000. Hedge funds and other institutional investors own 58.42% of the company’s stock.

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.