Newmark Group (NASDAQ:NMRK) Trading Up 7% - Time to Buy?

Newmark Group, Inc. (NASDAQ:NMRK - Get Free Report)'s stock price shot up 7% during trading on Thursday . The stock traded as high as $15.59 and last traded at $15.56. 432,634 shares traded hands during trading, a decline of 62% from the average session volume of 1,150,673 shares. The stock had previously closed at $14.54.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wolfe Research upgraded shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $15.00 target price on the stock in a research note on Friday, August 16th. Piper Sandler increased their price objective on Newmark Group from $13.00 to $17.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods raised Newmark Group from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $13.50 to $16.50 in a research note on Thursday, September 5th.

Newmark Group Price Performance

The company has a market capitalization of $2.65 billion, a PE ratio of 69.95 and a beta of 2.01. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.49. The firm's 50-day moving average is $14.54 and its 200-day moving average is $12.02.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. The firm had revenue of $633.40 million during the quarter, compared to analysts' expectations of $630.27 million. Newmark Group had a return on equity of 17.78% and a net margin of 1.75%. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 EPS. Equities analysts predict that Newmark Group, Inc. will post 1.15 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Friday, August 16th. Newmark Group's dividend payout ratio (DPR) is presently 54.55%.

Institutional Investors Weigh In On Newmark Group

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Newmark Group by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company's stock valued at $227,067,000 after acquiring an additional 702,233 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Newmark Group by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company's stock valued at $68,399,000 after acquiring an additional 480,047 shares in the last quarter. Leeward Investments LLC MA increased its position in Newmark Group by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 1,907,574 shares of the company's stock valued at $19,514,000 after purchasing an additional 101,426 shares during the period. Systematic Financial Management LP raised its holdings in Newmark Group by 11.9% in the 2nd quarter. Systematic Financial Management LP now owns 928,935 shares of the company's stock worth $9,503,000 after purchasing an additional 98,532 shares in the last quarter. Finally, Foundry Partners LLC lifted its position in shares of Newmark Group by 5.3% in the 2nd quarter. Foundry Partners LLC now owns 840,576 shares of the company's stock worth $8,599,000 after purchasing an additional 42,314 shares during the period. 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.