Gradient Investments LLC boosted its position in Newmark Group Inc (NASDAQ:NMRK) by 83.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,982 shares of the company’s stock after buying an additional 43,346 shares during the period. Gradient Investments LLC owned approximately 0.06% of Newmark Group worth $1,063,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. First Republic Investment Management Inc. boosted its stake in Newmark Group by 54.1% during the 2nd quarter. First Republic Investment Management Inc. now owns 21,569 shares of the company’s stock valued at $307,000 after purchasing an additional 7,569 shares during the last quarter. Stifel Financial Corp boosted its stake in Newmark Group by 4.8% during the 1st quarter. Stifel Financial Corp now owns 169,426 shares of the company’s stock valued at $2,575,000 after purchasing an additional 7,803 shares during the last quarter. Citigroup Inc. acquired a new position in Newmark Group during the 1st quarter valued at about $147,000. Canandaigua National Bank & Trust Co. acquired a new position in Newmark Group during the 2nd quarter valued at about $149,000. Finally, PNC Financial Services Group Inc. acquired a new position in Newmark Group during the 1st quarter valued at about $183,000. Institutional investors and hedge funds own 13.94% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Newmark Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. Sandler O’Neill upgraded Newmark Group from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Friday. Finally, Raymond James cut their price target on Newmark Group from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, September 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Newmark Group presently has a consensus rating of “Buy” and an average target price of $18.14.
NMRK stock opened at $10.11 on Friday. The stock has a market cap of $1.73 billion and a price-to-earnings ratio of 8.79. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.51 and a quick ratio of 0.51. Newmark Group Inc has a 52-week low of $9.85 and a 52-week high of $16.98.
Newmark Group (NASDAQ:NMRK) last announced its earnings results on Thursday, August 2nd. The company reported $0.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.25. The business had revenue of $466.62 million during the quarter, compared to analysts’ expectations of $472.50 million. On average, analysts forecast that Newmark Group Inc will post 1.5 EPS for the current year.
Newmark Group Company Profile
Newmark Group, Inc provides commercial real estate services in the United States and internationally. Its investor/owner services and products include capital markets, such as investment sales; and agency leasing, property management, valuation and advisory, and diligence and underwriting, as well as government sponsored enterprise lending, loan servicing, debt and structured finance, and loan sales under the Berkeley Point and NKF Capital Markets names.
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