Zacks Research Upgrades Newmark Group (NASDAQ:NMRK) to Strong-Buy

Newmark Group (NASDAQ:NMRK) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

NMRK has been the topic of several other reports. Keefe, Bruyette & Woods raised their price objective on Newmark Group from $18.00 to $18.50 and gave the company an “outperform” rating in a research report on Friday, May 1st. Citizens Jmp upped their target price on Newmark Group from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Friday, May 1st. Wall Street Zen downgraded Newmark Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 20th. Weiss Ratings upgraded Newmark Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Finally, Piper Sandler reiterated an “overweight” rating and set a $19.00 target price on shares of Newmark Group in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Newmark Group presently has an average rating of “Buy” and an average price target of $19.62.

Newmark Group Price Performance

NMRK opened at $15.39 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.50. Newmark Group has a 52-week low of $13.31 and a 52-week high of $19.83. The company has a 50 day moving average of $14.97 and a two-hundred day moving average of $15.49. The company has a market cap of $2.73 billion, a P/E ratio of 19.00 and a beta of 1.68.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Friday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter. Newmark Group had a net margin of 4.30% and a return on equity of 26.23%. The company had revenue of $846.52 million during the quarter. On average, analysts expect that Newmark Group will post 1.99 earnings per share for the current year.

Institutional Trading of Newmark Group

Several large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in shares of Newmark Group by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 5,343,384 shares of the company’s stock worth $80,095,000 after acquiring an additional 227,649 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Newmark Group by 88.9% in the second quarter. Ameriprise Financial Inc. now owns 2,520,314 shares of the company’s stock valued at $30,622,000 after purchasing an additional 1,186,191 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Newmark Group by 2.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,481,417 shares of the company’s stock valued at $30,199,000 after purchasing an additional 55,628 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in Newmark Group by 422.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,039,976 shares of the company’s stock valued at $35,373,000 after purchasing an additional 1,649,189 shares in the last quarter. Finally, Systematic Financial Management LP grew its stake in Newmark Group by 7.7% during the 1st quarter. Systematic Financial Management LP now owns 1,692,518 shares of the company’s stock valued at $25,371,000 after purchasing an additional 121,011 shares in the last quarter. 58.42% of the stock is currently owned by institutional investors and hedge funds.

About Newmark Group

Newmark Group, Inc is a publicly traded commercial real estate advisory firm headquartered in New York City. The company provides a comprehensive suite of services to real estate investors, occupiers and developers, including leasing advisory, property management, capital markets placement, loan servicing, valuation and advisory services. Newmark’s platform integrates local market expertise with national reach to support clients across diverse property types such as office, industrial, retail, multifamily and specialty assets.

Operating across two principal segments—global corporate services and capital markets & property-level services—Newmark delivers tailored solutions encompassing tenant representation, landlord leasing, investment sales, debt and equity financing, and appraisal services.