Newmark Group (NASDAQ:NMRK) Sees Unusually-High Trading Volume

Newmark Group, Inc. (NASDAQ:NMRK) saw strong trading volume on Tuesday . 3,111,527 shares changed hands during mid-day trading, an increase of 197% from the previous session’s volume of 1,048,053 shares.The stock last traded at $10.21 and had previously closed at $10.10.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NMRK. Keefe, Bruyette & Woods raised their price objective on shares of Newmark Group from $11.00 to $11.25 and gave the stock a “market perform” rating in a research note on Monday, February 26th. Piper Sandler restated an “overweight” rating and set a $13.00 price objective on shares of Newmark Group in a research report on Tuesday, March 26th.

Newmark Group Price Performance

The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 45.91 and a beta of 1.99. The company’s 50-day simple moving average is $10.45 and its 200 day simple moving average is $9.54. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.35.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). Newmark Group had a net margin of 1.47% and a return on equity of 17.11%. The business had revenue of $546.50 million during the quarter, compared to the consensus estimate of $526.07 million. During the same period in the prior year, the company posted $0.15 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts forecast that Newmark Group, Inc. will post 1.12 EPS for the current year.

Newmark Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.12 annualized dividend and a dividend yield of 1.20%. Newmark Group’s dividend payout ratio is currently 54.55%.

Hedge Funds Weigh In On Newmark Group

Several institutional investors have recently added to or reduced their stakes in the company. Diversified Trust Co increased its holdings in shares of Newmark Group by 5.4% in the first quarter. Diversified Trust Co now owns 23,249 shares of the company’s stock valued at $258,000 after purchasing an additional 1,200 shares in the last quarter. Evergreen Capital Management LLC lifted its position in Newmark Group by 11.8% during the 3rd quarter. Evergreen Capital Management LLC now owns 13,739 shares of the company’s stock valued at $88,000 after purchasing an additional 1,455 shares during the period. Prime Capital Investment Advisors LLC grew its position in shares of Newmark Group by 10.9% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 16,789 shares of the company’s stock worth $184,000 after buying an additional 1,647 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Newmark Group by 6.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 33,331 shares of the company’s stock valued at $365,000 after buying an additional 2,065 shares during the period. Finally, QRG Capital Management Inc. boosted its stake in Newmark Group by 15.8% in the fourth quarter. QRG Capital Management Inc. now owns 16,367 shares of the company’s stock valued at $179,000 after acquiring an additional 2,228 shares during the last quarter. 58.42% of the stock is owned by institutional investors.

Newmark Group Company Profile

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.