Clark Capital Management Group Inc. Has $4.03 Million Stake in Newmark Group, Inc. $NMRK

Key Points

• Clark Capital Management Group Inc. increased its stake in Newmark Group, Inc. by 17.6%, purchasing an additional 49,526 shares, bringing its total ownership to approximately 0.18% of the company valued at $4.03 million.
• Analysts have raised their price targets for Newmark Group, with a current average price target of $16.83 and recent upgrades indicating a potential for further growth.
• Newmark Group reported earnings of $0.31 per share for the last quarter, exceeding analyst expectations and indicating a 19.9% year-over-year revenue growth.

Clark Capital Management Group Inc. increased its position in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 17.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 330,853 shares of the company's stock after acquiring an additional 49,526 shares during the quarter. Clark Capital Management Group Inc. owned about 0.18% of Newmark Group worth $4,026,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Financial Management Professionals Inc. purchased a new stake in shares of Newmark Group in the first quarter worth $26,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Newmark Group in the first quarter valued at approximately $47,000. KBC Group NV purchased a new position in shares of Newmark Group during the first quarter worth $78,000. CWM LLC boosted its position in Newmark Group by 63.8% during the first quarter. CWM LLC now owns 7,693 shares of the company's stock worth $94,000 after acquiring an additional 2,996 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Newmark Group by 48.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company's stock worth $120,000 after acquiring an additional 3,070 shares during the last quarter. 58.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of Newmark Group from $14.00 to $15.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Wall Street Zen raised shares of Newmark Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Citizens Jmp began coverage on shares of Newmark Group in a research note on Monday, July 21st. They issued a "strong-buy" rating and a $17.00 price objective on the stock. Wolfe Research upgraded shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price objective for the company in a research report on Friday, May 23rd. Finally, Piper Sandler boosted their price objective on shares of Newmark Group from $16.00 to $19.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $16.83.

Newmark Group Stock Performance

Shares of Newmark Group stock traded up $0.17 on Wednesday, reaching $18.87. 264,310 shares of the stock were exchanged, compared to its average volume of 1,188,375. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 44.93 and a beta of 2.08. The business has a 50 day moving average price of $15.42 and a two-hundred day moving average price of $12.99. Newmark Group, Inc. has a twelve month low of $9.65 and a twelve month high of $19.15.

Newmark Group (NASDAQ:NMRK - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.05. Newmark Group had a return on equity of 22.73% and a net margin of 2.51%.The firm had revenue of $759.10 million during the quarter, compared to the consensus estimate of $695.24 million. During the same period last year, the company earned $0.22 EPS. The company's quarterly revenue was up 19.9% on a year-over-year basis. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. Analysts anticipate that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 14th were paid a $0.03 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. Newmark Group's payout ratio is 28.57%.

About Newmark Group

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.