Newmark Group (NASDAQ:NMRK) Shares Gap Down - Here's What Happened

Shares of Newmark Group, Inc. (NASDAQ:NMRK - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $14.65, but opened at $13.55. Newmark Group shares last traded at $14.62, with a volume of 303,131 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NMRK shares. 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 report on Friday, August 16th. Piper Sandler lifted 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. Finally, Keefe, Bruyette & Woods upgraded shares of Newmark Group from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $13.50 to $16.50 in a research note on Thursday, September 5th.

Newmark Group Stock Up 1.7 %

The stock has a market capitalization of $2.56 billion, a P/E ratio of 57.31 and a beta of 2.01. The company's 50-day moving average price is $14.81 and its 200 day moving average price is $12.32. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.49.

Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $633.40 million for the quarter, compared to the consensus estimate of $630.27 million. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The company's revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm earned $0.18 EPS. As a group, equities analysts expect that Newmark Group, Inc. will post 1.15 earnings per share for the current year.

Institutional Trading of Newmark Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its holdings in Newmark Group by 7.1% in the 3rd quarter. Victory Capital Management Inc. now owns 106,138 shares of the company's stock valued at $1,648,000 after acquiring an additional 7,005 shares during the last quarter. Assetmark Inc. bought a new stake in Newmark Group in the 3rd quarter valued at $93,000. Principal Financial Group Inc. increased its holdings in shares of Newmark Group by 1,017.4% in the 3rd quarter. Principal Financial Group Inc. now owns 2,137,630 shares of the company's stock worth $33,197,000 after buying an additional 1,946,322 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Newmark Group by 249.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 16,484 shares of the company's stock worth $254,000 after buying an additional 11,765 shares during the last quarter. Finally, CWC Advisors LLC. bought a new stake in shares of Newmark Group in the 3rd quarter worth about $301,000. 58.42% of the stock is currently 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.