Cubist Systematic Strategies LLC Acquires 187,824 Shares of Newmark Group, Inc. $NMRK

Key Points

• Cubist Systematic Strategies LLC increased its ownership of Newmark Group, Inc. by 45.6%, acquiring an additional 187,824 shares, which brings its total holdings to approximately 599,767 shares worth $7,299,000.
• Newmark Group reported a 19.9% increase in revenue year-over-year, reaching $759.1 million for the quarter, with an earnings per share (EPS) of $0.31, surpassing analyst estimates.
• The company declared a quarterly dividend of $0.03 per share, resulting in an annualized dividend yield of 0.7%, which highlights a payout ratio of 28.57%.

Cubist Systematic Strategies LLC grew its holdings in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 45.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 599,767 shares of the company's stock after acquiring an additional 187,824 shares during the period. Cubist Systematic Strategies LLC owned 0.33% of Newmark Group worth $7,299,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NMRK. Financial Management Professionals Inc. bought a new stake in Newmark Group in the first quarter worth approximately $26,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Newmark Group during the 1st quarter worth $47,000. KBC Group NV bought a new stake in shares of Newmark Group during the 1st quarter worth $78,000. CWM LLC boosted its holdings in shares of Newmark Group by 63.8% during the 1st quarter. CWM LLC now owns 7,693 shares of the company's stock worth $94,000 after buying an additional 2,996 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Newmark Group by 48.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company's stock worth $120,000 after buying an additional 3,070 shares during the period. 58.42% of the stock is owned by institutional investors.

Newmark Group Stock Performance

NASDAQ:NMRK traded up $0.64 during trading hours on Friday, hitting $18.56. 1,114,553 shares of the company traded hands, compared to its average volume of 1,360,103. Newmark Group, Inc. has a twelve month low of $9.65 and a twelve month high of $18.61. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 44.19 and a beta of 2.08. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average of $15.16 and a 200 day moving average of $12.93.

Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.31 earnings per share (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 22.73%. The company had revenue of $759.10 million during the quarter, compared to analysts' expectations of $695.24 million. During the same quarter in the prior year, the company posted $0.22 EPS. The business's 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. On average, analysts forecast that Newmark Group, Inc. will post 1.45 EPS for the current year.

Newmark Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Newmark Group from $14.00 to $15.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. JMP Securities upped their price objective on shares of Newmark Group from $17.00 to $19.00 and gave the stock a "market outperform" rating in a report on Thursday, July 31st. Wolfe Research raised 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 report on Friday, May 23rd. Piper Sandler upped their price objective on shares of Newmark Group from $16.00 to $19.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, Wall Street Zen raised shares of Newmark Group from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $16.83.

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.