Newmark Group (NASDAQ:NMRK) Shares Gap Down – Should You Sell?

Shares of Newmark Group, Inc. (NASDAQ:NMRK) 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 trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have 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 target price on Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods upgraded shares of Newmark Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $13.50 to $16.50 in a report on Thursday, September 5th.

Newmark Group Trading Up 3.0 %

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 stock has a market capitalization of $2.59 billion, a PE ratio of 56.35 and a beta of 2.01. The business’s 50-day moving average is $14.79 and its two-hundred day moving average is $12.28.

Newmark Group (NASDAQ:NMRK) last announced its earnings results on Friday, August 2nd. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. Newmark Group had a return on equity of 17.78% and a net margin of 1.75%. The firm had revenue of $633.40 million during the quarter, compared to analysts’ expectations of $630.27 million. During the same period in the prior year, the firm earned $0.18 EPS. The business’s revenue was up 8.1% on a year-over-year basis. On average, analysts anticipate that Newmark Group, Inc. will post 1.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Newmark Group

A number of institutional investors have recently modified their holdings of the business. Miller Howard Investments Inc. NY grew its position in Newmark Group by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 35,091 shares of the company’s stock worth $359,000 after purchasing an additional 823 shares during the last quarter. Diversified Trust Co increased its position in Newmark Group by 4.6% in the 2nd quarter. Diversified Trust Co now owns 24,329 shares of the company’s stock valued at $249,000 after acquiring an additional 1,080 shares during the period. Creative Planning raised its stake in Newmark Group by 3.0% during the 2nd quarter. Creative Planning now owns 39,393 shares of the company’s stock valued at $403,000 after acquiring an additional 1,131 shares during the last quarter. EntryPoint Capital LLC lifted its position in Newmark Group by 35.5% during the 1st quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock worth $49,000 after acquiring an additional 1,159 shares during the period. Finally, Hsbc Holdings PLC grew its stake in shares of Newmark Group by 6.1% in the 2nd quarter. Hsbc Holdings PLC now owns 24,870 shares of the company’s stock valued at $253,000 after purchasing an additional 1,420 shares during the last quarter. 58.42% of the stock is owned by institutional investors and hedge funds.

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.