Jefferies Financial Group Inc. Makes New Investment in Newmark Group, Inc. (NASDAQ:NMRK)

Key Points

• Jefferies Financial Group Inc. has acquired a new position in Newmark Group, purchasing 92,600 shares valued at approximately $1,127,000.
• Newmark Group's stock was recently upgraded to a buy rating by multiple analysts, with an average target price of $16.83.
• The company reported a 19.9% year-over-year revenue increase in its latest quarterly earnings, exceeding analysts' expectations with $759.1 million in revenue.

Jefferies Financial Group Inc. acquired a new stake in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 92,600 shares of the company's stock, valued at approximately $1,127,000. Jefferies Financial Group Inc. owned 0.05% of Newmark Group at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in NMRK. Financial Management Professionals Inc. bought a new position in shares of Newmark Group during the first quarter worth $26,000. Sterling Capital Management LLC raised its stake in shares of Newmark Group by 813.9% during the 4th quarter. Sterling Capital Management LLC now owns 4,149 shares of the company's stock worth $53,000 after purchasing an additional 3,695 shares in the last quarter. KBC Group NV acquired a new stake in Newmark Group in the 1st quarter valued at about $78,000. CWM LLC increased its holdings in shares of Newmark Group by 63.8% in the first quarter. CWM LLC now owns 7,693 shares of the company's stock valued at $94,000 after purchasing an additional 2,996 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Newmark Group by 48.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company's stock worth $120,000 after purchasing an additional 3,070 shares during the period. Institutional investors and hedge funds own 58.42% of the company's stock.

Newmark Group Trading Up 2.0%

Shares of NMRK traded up $0.32 during mid-day trading on Friday, reaching $16.20. The company's stock had a trading volume of 371,419 shares, compared to its average volume of 1,158,764. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.50. Newmark Group, Inc. has a 52 week low of $9.65 and a 52 week high of $16.30. The company's fifty day moving average price is $12.60 and its two-hundred day moving average price is $12.42. The stock has a market cap of $2.99 billion, a PE ratio of 38.61 and a beta of 2.04.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.05. Newmark Group had a net margin of 2.51% and a return on equity of 22.71%. The company had revenue of $759.10 million during the quarter, compared to analyst estimates of $695.24 million. During the same period in the prior year, the business posted $0.22 EPS. The firm's revenue was up 19.9% compared to the same quarter last year. On average, analysts predict that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, August 14th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 14th. Newmark Group's dividend payout ratio is presently 28.57%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NMRK shares. Keefe, Bruyette & Woods raised their price target on Newmark Group from $14.00 to $15.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Wall Street Zen raised shares of Newmark Group from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Wolfe Research upgraded Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price target on the stock in a report on Friday, May 23rd. Piper Sandler upped their price objective on Newmark Group from $16.00 to $19.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Citizens Jmp initiated coverage on shares of Newmark Group in a research note on Monday, July 21st. They set a "strong-buy" rating and a $17.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Newmark Group has an average rating of "Buy" and an average price target of $16.83.

Newmark Group Company Profile

Newmark Group, Inc provides commercial real estate services in the United States, the United Kingdom, and internationally. The company offers capital markets consisting of investment sales and commercial mortgage brokerage; landlord or agency representation leasing; valuation and advisory; property management; commercial real estate technology platform and capabilities; the United Kingdom business rates services; due diligence, consulting, and other advisory services; GSEs and the Federal Housing Administration lending services comprising multifamily lending and loan servicing; asset management; and flexible workspace solutions for owners.