Newmark Group Inc’s (NMRK) Quiet Period Set To End on January 24th

Newmark Group’s (NASDAQ:NMRK) quiet period is set to expire on Wednesday, January 24th. Newmark Group had issued 20,000,000 shares in its public offering on December 15th. The total size of the offering was $280,000,000 based on an initial share price of $14.00. During Newmark Group’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods assumed coverage on Newmark Group in a research note on Tuesday, January 9th. They issued a “market perform” rating and a $17.00 target price on the stock. Goldman Sachs Group assumed coverage on Newmark Group in a research note on Tuesday, January 9th. They issued a “buy” rating and a $24.00 target price on the stock. Wedbush assumed coverage on Newmark Group in a research note on Tuesday, January 9th. They issued an “outperform” rating and a $20.00 target price on the stock. Bank of America assumed coverage on Newmark Group in a research note on Tuesday, January 9th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Sandler O’Neill assumed coverage on Newmark Group in a research note on Tuesday, January 9th. They issued a “buy” rating and a $18.50 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $19.90.

Newmark Group (NASDAQ:NMRK) opened at $16.25 on Friday. Newmark Group has a 12 month low of $13.72 and a 12 month high of $16.74.

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About Newmark Group

Newmark Group, Inc is a commercial real estate services company. The Company is focused on offering products and services to both owners and occupiers across the entire commercial real estate industry. Its investor/owner services and products include capital markets, which consists of investment sales, debt and structured finance and loan sales, agency leasing, property management, valuation and advisory, diligence and underwriting and government-sponsored enterprise lending and loan servicing.

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