Newmark Group (NASDAQ:NMRK) Lowered to "Peer Perform" Rating by Wolfe Research

Newmark Group (NASDAQ:NMRK - Get Free Report) was downgraded by equities research analysts at Wolfe Research from an "outperform" rating to a "peer perform" rating in a note issued to investors on Monday, MarketBeat reports.

A number of other analysts have also recently commented on the company. Piper Sandler upped their price target on Newmark Group from $13.00 to $17.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 3rd. Keefe, Bruyette & Woods raised 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 report on Thursday, September 5th.

Newmark Group Stock Performance

NMRK stock traded up $0.17 on Monday, hitting $15.45. The company had a trading volume of 476,028 shares, compared to its average volume of 1,160,091. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. Newmark Group has a 12-month low of $7.73 and a 12-month high of $16.10. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 50.93 and a beta of 2.01. The stock's 50-day simple moving average is $15.11 and its 200 day simple moving average is $12.82.

Newmark Group (NASDAQ:NMRK - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.33 EPS 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 quarter in the previous year, the company posted $0.27 earnings per share. Newmark Group's revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts expect that Newmark Group will post 1.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Newmark Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp bought a new position in shares of Newmark Group during the second quarter worth $33,000. EntryPoint Capital LLC grew its position in shares of Newmark Group by 35.5% during the first quarter. EntryPoint Capital LLC now owns 4,422 shares of the company's stock valued at $49,000 after purchasing an additional 1,159 shares in the last quarter. Assetmark Inc. bought a new stake in shares of Newmark Group in the third quarter worth about $93,000. SG Americas Securities LLC bought a new stake in shares of Newmark Group in the third quarter worth about $112,000. Finally, Blue Trust Inc. lifted its position in shares of Newmark Group by 408.2% in the third quarter. Blue Trust Inc. now owns 9,401 shares of the company's stock worth $146,000 after buying an additional 7,551 shares in the last quarter. 58.42% of the stock is owned by hedge funds and other institutional investors.

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.