292,176 Shares in Newmark Group, Inc. $NMRK Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management acquired 292,176 Newmark Group shares worth approximately $4.4 million, giving it a 0.16% stake. Institutional investors and hedge funds collectively own 58.42% of the company.
• Newmark reported quarterly revenue of $888.4 million, up 17% year over year and above analyst expectations, while EPS of $0.39 matched estimates. Shares opened at $14.82, within a 52-week range of $13.36 to $19.83.
• The company declared a quarterly dividend of $0.06 per share, equivalent to an annualized $0.24 payout and a 1.6% yield. Analysts maintain a consensus “Buy” rating with an average price target of $20.10.

Assenagon Asset Management S.A. purchased a new stake in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 292,176 shares of the company's stock, valued at approximately $4,415,000. Assenagon Asset Management S.A. owned approximately 0.16% of Newmark Group at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Balyasny Asset Management L.P. boosted its position in shares of Newmark Group by 422.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,039,976 shares of the company's stock worth $35,373,000 after purchasing an additional 1,649,189 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Newmark Group in the 2nd quarter valued at about $14,580,000. Ameriprise Financial Inc. raised its stake in Newmark Group by 88.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,520,314 shares of the company's stock worth $30,622,000 after buying an additional 1,186,191 shares during the period. Wellington Management Group LLP raised its stake in Newmark Group by 194.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,575,475 shares of the company's stock worth $29,383,000 after buying an additional 1,039,798 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in Newmark Group by 84.5% in the second quarter. Raymond James Financial Inc. now owns 1,336,702 shares of the company's stock worth $16,241,000 after acquiring an additional 612,363 shares in the last quarter. Institutional investors and hedge funds own 58.42% of the company's stock.

Newmark Group Stock Performance

Shares of Newmark Group stock opened at $14.82 on Thursday. The company has a market cap of $2.63 billion, a PE ratio of 18.30 and a beta of 1.68. Newmark Group, Inc. has a 52 week low of $13.36 and a 52 week high of $19.83. The business has a 50 day moving average price of $15.19 and a 200-day moving average price of $15.27. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.50.

Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. Newmark Group had a return on equity of 27.30% and a net margin of 4.11%.The company had revenue of $888.42 million for the quarter, compared to analysts' expectations of $865.24 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Newmark Group's quarterly revenue was up 17.0% on a year-over-year basis. Newmark Group has set its FY 2026 guidance at 1.870-1.980 EPS. Equities analysts anticipate that Newmark Group, Inc. will post 1.97 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, August 14th. This represents a $0.24 annualized dividend and a yield of 1.6%. Newmark Group's dividend payout ratio (DPR) is 29.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wall Street Zen cut Newmark Group from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 5th. Piper Sandler reaffirmed an "overweight" rating and set a $19.00 target price on shares of Newmark Group in a research report on Monday, June 29th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Newmark Group in a report on Friday, August 7th. UBS Group set a $22.00 price target on shares of Newmark Group in a research report on Monday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Newmark Group from $18.00 to $18.50 and gave the company an "outperform" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $20.10.

Newmark Group Company Profile

Newmark Group, Inc is a publicly traded commercial real estate advisory firm headquartered in New York City. The company provides a comprehensive suite of services to real estate investors, occupiers and developers, including leasing advisory, property management, capital markets placement, loan servicing, valuation and advisory services. Newmark's platform integrates local market expertise with national reach to support clients across diverse property types such as office, industrial, retail, multifamily and specialty assets.

Operating across two principal segments—global corporate services and capital markets & property-level services—Newmark delivers tailored solutions encompassing tenant representation, landlord leasing, investment sales, debt and equity financing, and appraisal services.

Want to see what other hedge funds are holding NMRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmark Group, Inc. (NASDAQ:NMRK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source