HGI Capital Management LLC Buys 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 lifted its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 40.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and 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 about 5.3% of HGI Capital Management LLC's investment portfolio, making the stock its 7th largest holding. HGI Capital Management LLC owned about 0.19% of Newmark Group worth $4,245,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Barclays PLC grew its holdings in Newmark Group by 0.3% in the 4th quarter. Barclays PLC now owns 227,866 shares of the company's stock worth $2,919,000 after buying an additional 767 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Newmark Group by 1.3% in the 4th quarter. MetLife Investment Management LLC now owns 79,900 shares of the company's stock worth $1,024,000 after buying an additional 1,035 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in Newmark Group by 10.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 11,878 shares of the company's stock worth $145,000 after buying an additional 1,121 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Newmark Group by 9.5% in the first quarter. PNC Financial Services Group Inc. now owns 14,396 shares of the company's stock worth $175,000 after purchasing an additional 1,250 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Newmark Group by 4.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 32,806 shares of the company's stock worth $420,000 after purchasing an additional 1,286 shares during the period. 58.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler upped their target price on Newmark Group from $16.00 to $19.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Citizens Jmp initiated coverage on Newmark Group in a research report on Monday, July 21st. They set a "strong-buy" rating and a $17.00 price objective for the company. JMP Securities increased their price objective on Newmark Group from $17.00 to $19.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded Newmark Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Wolfe Research upgraded 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. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $16.83.

Newmark Group Stock Down 1.9%

Shares of NMRK traded down $0.34 during mid-day trading on Tuesday, reaching $17.87. The company's stock had a trading volume of 538,667 shares, compared to its average volume of 1,184,739. The business has a fifty day moving average of $14.69 and a 200 day moving average of $12.82. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 42.52 and a beta of 2.08. Newmark Group, Inc. has a 1 year low of $9.65 and a 1 year high of $18.59. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.58.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its earnings results 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. The company had revenue of $759.10 million during the quarter, compared to analyst estimates of $695.24 million. Newmark Group had a return on equity of 22.73% and a net margin of 2.51%.The company's revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 earnings per share. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. As a group, analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Thursday, August 14th were issued a $0.03 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.7%. Newmark Group's dividend payout ratio is presently 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.