HGI Capital Management LLC Acquires 100,049 Shares of Newmark Group, Inc. $NMRK

Key Points

• HGI Capital Management LLC significantly increased its stake in Newmark Group by 40.2%, holding 348,841 shares after acquiring an additional 100,049 shares during the first quarter.
• Newmark Group reported $0.31 earnings per share for the quarter, surpassing analysts' estimates and showing a 19.9% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.03 per share, which will be paid on August 29th, with a dividend yield of 0.7%.

HGI Capital Management LLC raised its holdings in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 40.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 348,841 shares of the company's stock after buying an additional 100,049 shares during the period. Newmark Group makes up approximately 5.3% of HGI Capital Management LLC's portfolio, making the stock its 7th largest position. HGI Capital Management LLC owned 0.19% of Newmark Group worth $4,245,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of Newmark Group by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,374,705 shares of the company's stock worth $81,660,000 after buying an additional 88,618 shares during the last quarter. Millennium Management LLC increased its position in Newmark Group by 138.5% during the 4th quarter. Millennium Management LLC now owns 1,916,186 shares of the company's stock worth $24,546,000 after purchasing an additional 1,112,610 shares during the period. Nuveen LLC purchased a new position in Newmark Group in the first quarter worth $21,497,000. Bridgeway Capital Management LLC increased its holdings in shares of Newmark Group by 2.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,675,161 shares of the company's stock valued at $21,459,000 after purchasing an additional 38,233 shares in the last quarter. Finally, Penn Capital Management Company LLC increased its holdings in Newmark Group by 30.4% in the first quarter. Penn Capital Management Company LLC now owns 1,508,090 shares of the company's stock valued at $18,401,000 after buying an additional 351,854 shares in the last quarter. Institutional investors and hedge funds own 58.42% of the company's stock.

Newmark Group Price Performance

NMRK traded up $0.11 on Friday, reaching $18.21. The company had a trading volume of 1,661,980 shares, compared to its average volume of 1,479,763. The company has a fifty day moving average of $14.56 and a 200-day moving average of $12.80. 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 company has a market capitalization of $3.22 billion, a P/E ratio of 43.36 and a beta of 2.04. Newmark Group, Inc. has a one year low of $9.65 and a one year high of $18.59.

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

Newmark Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 14th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, August 14th. Newmark Group's dividend payout ratio is currently 28.57%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NMRK shares. Piper Sandler upped their target price on Newmark Group from $16.00 to $19.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. JMP Securities boosted their target price on shares of Newmark Group from $17.00 to $19.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Wolfe Research upgraded Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price target for the company in a research note on Friday, May 23rd. Wall Street Zen raised shares of Newmark Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Citizens Jmp assumed coverage on Newmark Group in a report on Monday, July 21st. They set a "strong-buy" rating and a $17.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat.com, Newmark Group has an average rating of "Buy" and an average target price 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.