TheStreet downgrades Newmark Group (NASDAQ:NMRK) to C+

Newmark Group (NASDAQ:NMRK – Get Rating) was downgraded by TheStreet research analysts from a “b-” to a “c+” rating in a research report released on Tuesday, reports TheStreetRatingsTable.

Separately, Piper Sandler cut its price target on Newmark Group shares from $12.00 to $10.00 and set a “neutral” rating on the stock in a Friday, October 7 report. Three analysts gave the stock a hold rating and one gave the company a buy rating. According to MarketBeat.com, Newmark Group has an average rating of “Hold” and an average target price of $15.75.

Performance of Newmark Group Shares

Newmark Group shares opened at $8.43 on Tuesday. The company has a market capitalization of $1.51 billion, a P/E ratio of 5.17 and a beta of 1.80. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt ratio of 0.37. The company has a 50-day moving average price of $9.89 and a 200-day moving average price of $10.94. Newmark Group has a 52 week low of $7.80 and a 52 week high of $19.10.

Newmark Group (NASDAQ:NMRK – Get Rating) last reported quarterly earnings data on Friday, July 29. The company reported EPS of $0.46 for the quarter, beating the consensus estimate of $0.40 by $0.06. Newmark Group had a net margin of 10.19% and a return on equity of 30.07%. The company posted revenue of $755.40 million in the quarter, versus analyst estimates of $670.04 million. During the same period last year, the company posted EPS of $0.31. Newmark Group revenue increased 19.9% ​​year-over-year. Sell-side analysts expect Newmark Group to post year-to-date EPS of 1.8.

Hedge funds weigh on Newmark Group

Several institutional investors have recently bought and sold shares of NMRK. Barclays PLC increased its position in Newmark Group shares by 133.5% during the fourth quarter. Barclays PLC now owns 186,999 shares in the company worth $3,497,000 after buying a further 106,916 shares last quarter. First Hawaiian Bank bought a new stake in Newmark Group in the first quarter, valued at around $588,000. Diversified Trust Co increased its stake in Newmark Group by 17.6% in the first quarter. Diversified Trust Co now owns 42,494 shares of the company valued at $677,000 after buying 6,357 additional shares in the last quarter. AE Wealth Management LLC purchased a new stake in Newmark Group stock during the first quarter worth approximately $653,000. Finally, HMS Capital Management LLC purchased a new stake in Newmark Group stock during the first quarter worth approximately $902,000. 58.30% of the shares are held by institutional investors and hedge funds.

Newmark Group Company Profile

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Newmark Group, Inc provides commercial real estate services in the United States and internationally. The Company’s services and products for investors/owners include capital markets, such as investment, debt and structured finance, and loan sales; agency leasing, property management, appraisal and consulting; and commercial real estate due diligence consulting and advisory services, as well as government-sponsored business lending, loan servicing, mortgage brokerage and fundraising services.

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