Newmark Group, Inc. (NASDAQ:NMRK) Chairman Purchases $2,999,910.00 in Stock

Posted by on May 25th, 2022

Newmark Group, Inc. (NASDAQ:NMRK – Get Rating) Chairman Howard W. Lutnick purchased 277,000 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The shares were acquired at an average cost of $10.83 per share, with a total value of $2,999,910.00. Following the completion of the transaction, the chairman now directly owns 8,019,434 shares of the company’s stock, valued at approximately $86,850,470.22. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of Newmark Group stock traded up $0.11 during trading hours on Wednesday, reaching $10.46. The company had a trading volume of 1,472,309 shares, compared to its average volume of 1,519,930. Newmark Group, Inc. has a one year low of $10.14 and a one year high of $19.10. The business has a fifty day simple moving average of $13.46 and a 200 day simple moving average of $15.46. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market cap of $1.98 billion, a PE ratio of 2.96, a price-to-earnings-growth ratio of 0.61 and a beta of 1.77.

Newmark Group (NASDAQ:NMRK – Get Rating) last posted its quarterly earnings results on Friday, April 29th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. Newmark Group had a return on equity of 30.23% and a net margin of 23.31%. The firm had revenue of $678.20 million during the quarter, compared to analyst estimates of $652.97 million. During the same period last year, the company earned $0.20 earnings per share. The business’s revenue for the quarter was up 34.6% on a year-over-year basis. On average, research analysts forecast that Newmark Group, Inc. will post 1.82 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Investors of record on Monday, May 16th will be paid a dividend of $0.03 per share. This is a positive change from Newmark Group’s previous quarterly dividend of $0.01. The ex-dividend date is Friday, May 13th. This represents a $0.12 annualized dividend and a yield of 1.15%. Newmark Group’s dividend payout ratio (DPR) is currently 3.43%.

Several equities analysts have weighed in on NMRK shares. Piper Sandler lowered Newmark Group from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $15.00 in a report on Monday, April 18th. The Goldman Sachs Group started coverage on Newmark Group in a report on Tuesday, April 5th. They set a “neutral” rating and a $18.00 price objective for the company. Wolfe Research lowered Newmark Group from an “outperform” rating to a “peer perform” rating and reduced their price objective for the company from $22.00 to $17.00 in a report on Thursday, March 10th. Zacks Investment Research lowered Newmark Group from a “buy” rating to a “hold” rating in a report on Thursday, April 14th. Finally, Raymond James reduced their price objective on Newmark Group from $21.00 to $18.00 and set an “outperform” rating for the company in a report on Tuesday, April 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $16.80.

A number of large investors have recently bought and sold shares of NMRK. Point72 Hong Kong Ltd boosted its stake in Newmark Group by 912.5% during the fourth quarter. Point72 Hong Kong Ltd now owns 2,025 shares of the company’s stock valued at $38,000 after buying an additional 1,825 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in Newmark Group during the first quarter valued at $38,000. Lazard Asset Management LLC bought a new stake in Newmark Group during the fourth quarter valued at $41,000. Moors & Cabot Inc. bought a new stake in Newmark Group during the third quarter valued at $45,000. Finally, Spire Wealth Management bought a new stake in Newmark Group during the fourth quarter valued at $50,000. 58.17% of the stock is owned by institutional investors.

About Newmark Group (Get Rating)

Newmark Group, Inc provides commercial real estate services in the United States and internationally. The company's investor/owner services and products include capital markets, such as investment, debt and structured finance, and loan sales; agency leasing, property management, and valuation and advisory; and commercial real estate due diligence consulting and advisory services, as well as government sponsored enterprise lending, loan servicing, mortgage broking, and equity-raising services.

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