Newmark Group, Inc. (NASDAQ:NMRK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Newmark Group, Inc. (NASDAQ:NMRK) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $18.4286.

A number of equities analysts have weighed in on the stock. Barclays assumed coverage on shares of Newmark Group in a research report on Tuesday, December 2nd. They issued an “overweight” rating and a $21.00 price target for the company. Wall Street Zen raised shares of Newmark Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 15th. Citigroup reissued a “market outperform” rating on shares of Newmark Group in a report on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Newmark Group in a research note on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods increased their target price on Newmark Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th.

Newmark Group Stock Down 0.1%

NMRK stock opened at $17.27 on Friday. The business’s 50-day moving average price is $17.31 and its 200-day moving average price is $17.50. The stock has a market cap of $3.12 billion, a P/E ratio of 30.30 and a beta of 1.91. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.46. Newmark Group has a twelve month low of $9.65 and a twelve month high of $19.83.

Hedge Funds Weigh In On Newmark Group

Several hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its stake in Newmark Group by 319.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,604,326 shares of the company’s stock valued at $27,819,000 after acquiring an additional 1,222,069 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Newmark Group during the second quarter valued at about $14,580,000. Ameriprise Financial Inc. increased its holdings in shares of Newmark Group by 88.9% in the second quarter. Ameriprise Financial Inc. now owns 2,520,314 shares of the company’s stock worth $30,622,000 after purchasing an additional 1,186,191 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Newmark Group by 194.1% in the third quarter. Wellington Management Group LLP now owns 1,575,475 shares of the company’s stock worth $29,383,000 after purchasing an additional 1,039,798 shares during the last quarter. Finally, Boston Partners lifted its position in shares of Newmark Group by 65.2% in the second quarter. Boston Partners now owns 2,212,910 shares of the company’s stock worth $26,899,000 after buying an additional 873,180 shares in the last quarter. Hedge funds and other institutional investors own 58.42% of the company’s stock.

About Newmark Group

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.