Newmark’s CEO Barry Gosin buys $8M worth of company stock

Share price rose nearly 7% Tuesday after company CEO increased his stake to 2M shares

TRD NATIONAL /
Dec.December 12, 2018 01:45 PM

Newmark Group offices 125 Park Avenue and Barry Gosin (Credit: LoopNet)

Newmark Group CEO Barry Gosin bought $8 million worth of company shares this week, sending the stock price climbing nearly 7 percent Tuesday.

Gosin, who helped steer the company toward its initial public offering one year ago, bought slightly more than 890,000 shares in two transactions Monday and Tuesday at a weighted average of just over $9 per share, filings with the Securities Exchange Commissions show.

The purchase increased Gosin’s holdings in the company to 2.1 million shares, or about 1.5 percent of the firm’s 138.94 million outstanding shares.

Gosin could not be immediately reached for comment.

Newmark Group’s stock price rose following the news on Tuesday, climbing 6.7 percent to close at $9.13 per share. The price was still climbing as high as $9.66 per share by late Wednesday morning.

Still, the company has a long way to go in order to make up ground for a disappointing year. Its stock price is down more than 40 percent from its peak of $16.61 per share on Jan. 1. Newmark’s pricing in its December 2017 initial public offering was $14 per share.

Analysts said the stock had been weighed down by Newmark’s delayed spinoff from its parent company, BGC Partners, which it completed late last month.

Newmark isn’t the only firm seeing stock prices take a hit. Many public real estate firms a re watching their valuations slide, as private companies continue to land investments pushing their values ever-higher, a trend The Real Deal reported in its December cover story.


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)

Real estate stocks push up this week as U.S.-China trade tensions ease

Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Churchill Real Estate Holdings’ Justin Ehrlich (iStock)

Churchill Real Estate lines up $2B investment for residential lending

Churchill Real Estate lines up $2B investment for residential lending
Here are the multifamily borrowers getting the most forbearance from Fannie & Freddie

Here are the multifamily borrowers getting the most forbearance from Fannie & Freddie

Here are the multifamily borrowers getting the most forbearance from Fannie & Freddie
Joe Moinian and 123 Linden Blvd. (Moinian Group)

These were the top outer borough loans in July

These were the top outer borough loans in July
Clockwise from top: Savanna's Christopher Schlank with 1375 Broadway, a rendering of 40 10th Avenue and 109 East 79th Street with Victor Sigoura (Google Maps; Getty; rendering via 40tenthave)

These were the largest Manhattan real estate loans in July

These were the largest Manhattan real estate loans in July
From left: Trinity Investments CEO Sean Hehir and Benchmark Real Estate Group principals Aaron Feldman and Jordan Vogel (iStock, LinkedIn, Trinity Investments)

“Blank-check” companies make a comeback in real estate

“Blank-check” companies make a comeback in real estate
Starwood Capital Group CEO Barry Sternlicht (Getty)

Starwood eyes $11B raise for real estate, distressed bets

Starwood eyes $11B raise for real estate, distressed bets
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...