The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Newmark Group Inc. shares valued at $2,995,709 were purchased by LUTNICK HOWARD W on Jun 14. At $9.11 per share, LUTNICK HOWARD W acquired 329,000 shares. The insider’s holdings grew to 8,348,434 shares worth approximately $80.56 million following the completion of this transaction.
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Also, LUTNICK HOWARD W purchased 277,000 shares, netting a total of over 2,999,965 in proceeds. Following the buying of shares at $10.83 each, the insider now holds 8,019,434 shares.
Before that, LUTNICK HOWARD W had added 116,700 shares to its account. In a trade valued at $1,939,554, the Chairman bought Newmark Group Inc. shares for $16.62 each. Upon closing the transaction, the insider’s holdings increased to 116,700 shares, worth approximately $74.71 million.
As published in a research note from Piper Sandler on April 18, 2022, Newmark Group Inc. [NMRK] has been rated down from an Overweight to a Neutral and the price target has been revised to $15 from $20. This represents a 35.67% premium over Thursday’s closing price. Analysts at Goldman started covering the stock with ‘”a Neutral”‘ outlook in a report released in early April. As of March 10, 2022, Wolfe Research has decreased its “an Outperform” rating to a “Peer perform” for NMRK. Earlier on June 15, 2021, Wolfe Research initiated its rating. Their recommendation was “an Outperform” for NMRK stock.
Analyzing NMRK’s Price Performance
On Thursday, Newmark Group Inc. [NASDAQ: NMRK] rose 3.43% to $9.65. The stock’s lowest price that day was $9.32, but it reached a high of $9.68 in the same session. During the last five days, there has been a surge of approximately 5.23%. Over the course of the year, Newmark Group Inc. shares have dropped approximately -48.40%. Shares of the company reached a 52-week high of $19.10 on 01/03/22 and a 52-week low of $8.66 on 06/16/22. A 50-day SMA is recorded $11.31, while a 200-day SMA reached $14.67. Nevertheless, trading volume fell to 1.3 million shares from 1.86 million shares the previous day.
Support And Resistance Levels for Newmark Group Inc. (NMRK)
According to the 24-hour chart, there is a support level at 9.42, which, if violated, would cause prices to drop to 9.19. In the upper region, resistance lies at 9.78. The next price resistance is at 9.91. RSI (Relative Strength Index) is 42.22 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.16, which suggests the price will decrease in the coming days. Percent R is at 50.75%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Newmark Group Inc. subject to short interest?
Stocks of Newmark Group Inc. saw a sharp steep in short interest on May 30, 2022 dropping by -0.23 million shares to 5.44 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 5.67 million shares. A decline of -4.23% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.66 of the overall float, the days-to-cover ratio (short ratio) decline to 2.66.
Which companies own the most shares of Newmark Group Inc. (NMRK)?
According to The Vanguard Group, Inc. filings, the company currently owns 25,744,865 shares, which is about 15.76% of the total NMRK shares outstanding. The investor’s shares have appreciated by 1,282,711 from its previous 13-F filing of 24462154.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $107,581,337. Cardinal Capital Management LLC reduced a -16.57% interest valued at $55.01 million while Empyrean Capital Partners LP sold a 0 stake. A total of 172,700 shares of Newmark Group Inc. were sold by FIAM LLC during the quarter, and 253,532 were bought by Geode Capital Management LLC. In its current portfolio, SSgA Funds Management, Inc. holds 3,269,686 shares valued at $36.2 million.
In terms of Newmark Group Inc. share price expectations, FactSet research, analysts set an average price target of $15.50 in the next 12 months, up nearly 66.13% from the previous closing price of $9.33. Analysts anticipate Newmark Group Inc. stock to reach $18.00 by 2022, with the lowest price target being $12.00. In spite of this, 5 analysts ranked Newmark Group Inc. stock as a Hold at the end of 2022. On February 25, 2021, BofA Securities assigned a price target of “a Buy” to the stock and upgraded coverage with a $20.