Newmark Group (NMRK) Cut to Sell at ValuEngine

ValuEngine cut shares of Newmark Group (NASDAQ:NMRK) from a hold rating to a sell rating in a report issued on Thursday morning.

Separately, Zacks Investment Research upgraded Newmark Group from a sell rating to a hold rating in a research note on Tuesday, January 1st. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $14.50.

Shares of Newmark Group stock traded down $0.18 during trading hours on Thursday, reaching $9.08. The company’s stock had a trading volume of 22,303 shares, compared to its average volume of 1,249,935. The company has a market cap of $1.44 billion, a PE ratio of 6.02, a price-to-earnings-growth ratio of 0.63 and a beta of 1.28. Newmark Group has a one year low of $7.34 and a one year high of $16.06. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.45.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Tuesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. Newmark Group had a net margin of 5.06% and a return on equity of 51.98%. The company had revenue of $631.70 million during the quarter, compared to analysts’ expectations of $591.66 million. Newmark Group’s revenue for the quarter was up 37.1% on a year-over-year basis. As a group, sell-side analysts expect that Newmark Group will post 1.63 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 13th. Shareholders of record on Thursday, February 28th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, February 27th. This represents a $0.36 annualized dividend and a dividend yield of 3.96%. Newmark Group’s dividend payout ratio is currently 23.68%.

In other news, CEO Barry M. Gosin purchased 102,796 shares of the firm’s stock in a transaction dated Wednesday, December 12th. The shares were purchased at an average price of $9.25 per share, with a total value of $950,863.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Barry M. Gosin purchased 306,429 shares of the firm’s stock in a transaction dated Monday, December 10th. The stock was purchased at an average cost of $8.59 per share, for a total transaction of $2,632,225.11. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 419,225 shares of company stock worth $3,666,888. Company insiders own 90.95% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in NMRK. Wedbush Securities Inc. purchased a new stake in Newmark Group in the third quarter worth about $124,000. JPMorgan Chase & Co. increased its holdings in shares of Newmark Group by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,490 shares of the company’s stock worth $128,000 after buying an additional 6,860 shares during the last quarter. Great Lakes Advisors LLC bought a new stake in shares of Newmark Group in the 3rd quarter worth about $184,000. RBF Capital LLC bought a new stake in shares of Newmark Group in the 3rd quarter worth about $207,000. Finally, MetLife Investment Advisors LLC bought a new stake in shares of Newmark Group in the 3rd quarter worth about $214,000. 29.16% of the stock is currently owned by hedge funds and other institutional investors.

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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