Newmark Group (NASDAQ:NMRK – Get Rating) saw its target price lowered by equity researchers at Goldman Sachs Group from $10.25 to $9.00 in a note released to investors on Tuesday, Benzinga reports. The company currently has a “neutral” rating on the stock. Goldman Sachs Group’s price target would indicate a potential upside of 11.80% from the company’s current price.
A number of other research companies have also recently published reports on NMRK. Piper Sandler lowered her price target on Newmark Group shares to $10.00 in a Thursday, October 13 research report. Raymond James lowered his price target on Newmark Group from $15.00 to $13.00 and set an “outperform” rating for the company in a Monday, October 31 research note. Finally, TheStreet upgraded Newmark Group from a “b-” to a “c+” rating in a report on Tuesday, October 11. Three research analysts rated the stock with a hold rating and one gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.25.
Newmark Group shares up 2.7%
NASDAQ NMRK shares opened at $8.05 on Tuesday. The company has a market capitalization of $1.44 billion, a price/earnings ratio of 7.00 and a beta of 1.75. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt ratio of 0.37. Newmark Group has a 12-month low of $7.41 and a 12-month high of $19.10. The stock has a 50-day moving average price of $9.07 and a 200-day moving average price of $10.16.
Hedge funds weigh on Newmark Group
A number of hedge funds and other institutional investors have recently changed their positions in NMRK. Leeward Investments LLC MA acquired a new stake in Newmark Group during Q1 valued at approximately $34,163,000. River Road Asset Management LLC increased its stake in Newmark Group by 131.8% during the second quarter. River Road Asset Management LLC now owns 3,494,906 shares of the company worth $33,796,000 after purchasing an additional 1,986,921 shares in the last quarter. Vanguard Group Inc. increased its stake in Newmark Group by 5.3% in the first quarter. Vanguard Group Inc. now owns 26,213,288 shares of the company valued at $417,315,000 after purchasing an additional 1,309,242 shares during the period. Ceredex Value Advisors LLC acquired a new stake in Newmark Group during the second quarter at a value of $12,552,000. Finally, Fuller & Thaler Asset Management Inc. increased its stake in Newmark Group by 142.3% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,176,781 shares of the company worth $34,654,000 after acquiring an additional 1,278,444 shares during the period. 58.30% of the shares are held by institutional investors and hedge funds.
About Newmark Group
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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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