Newmark Group (NMRK) Rating Lowered to Hold at Zacks Investment Research

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Newmark Group (NASDAQ:NMRK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Newmark Group, Inc. operates as a commercial real estate advisory firm. The Company offers services and products which includes investment sales, debt and structured finance and loan sales, agency leasing, property management, valuation and advisory and loan servicing. Newmark Group, Inc. is based in New York, United States. “

NMRK has been the topic of several other research reports. Sandler O’Neill cut Newmark Group from a “buy” rating to a “hold” rating in a report on Friday, May 4th. ValuEngine cut Newmark Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $19.21.

Newmark Group stock opened at $12.69 on Wednesday. The stock has a market cap of $1.95 billion and a PE ratio of 11.03. Newmark Group has a 1 year low of $12.06 and a 1 year high of $16.98. 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 (NASDAQ:NMRK) last posted its earnings results on Thursday, August 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. The company had revenue of $466.62 million for the quarter, compared to analyst estimates of $472.50 million. equities analysts forecast that Newmark Group will post 1.53 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Newmark Group by 4.6% during the 2nd quarter. BlackRock Inc. now owns 3,077,689 shares of the company’s stock valued at $43,796,000 after purchasing an additional 135,117 shares in the last quarter. Gratia Capital LLC lifted its holdings in shares of Newmark Group by 20.7% during the 1st quarter. Gratia Capital LLC now owns 1,567,943 shares of the company’s stock valued at $23,817,000 after purchasing an additional 269,064 shares in the last quarter. Systematic Financial Management LP lifted its holdings in shares of Newmark Group by 41.5% during the 2nd quarter. Systematic Financial Management LP now owns 1,094,552 shares of the company’s stock valued at $15,575,000 after purchasing an additional 320,839 shares in the last quarter. Jacobs Asset Management LLC bought a new stake in Newmark Group in the 1st quarter valued at approximately $11,137,000. Finally, Millennium Management LLC lifted its stake in Newmark Group by 263.7% in the 1st quarter. Millennium Management LLC now owns 708,445 shares of the company’s stock valued at $10,761,000 after acquiring an additional 513,674 shares in the last quarter. Institutional investors and hedge funds own 15.57% of the company’s stock.

About Newmark Group

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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