Hillsdale Investment Management Inc. Purchases 518,990 Shares of Newmark Group, Inc. $NMRK

Key Points

• Hillsdale Investment Management sharply increased its stake in Newmark Group, buying 518,990 shares in the first quarter and lifting its holdings to about 519,440 shares worth $7.8 million.
• Newmark Group’s stock was down slightly and traded around $15.09, with the company carrying a market cap of $2.68 billion and a one-year range of $12.06 to $19.83.
• The company recently raised its quarterly dividend to $0.06 per share from $0.03, while analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $19.62.

Hillsdale Investment Management Inc. increased its position in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 115,331.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 519,440 shares of the company's stock after purchasing an additional 518,990 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.28% of Newmark Group worth $7,786,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Robertson Stephens Wealth Management LLC raised its holdings in shares of Newmark Group by 22.6% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 397,408 shares of the company's stock valued at $6,891,000 after buying an additional 73,239 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Newmark Group by 32.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,793,401 shares of the company's stock worth $33,447,000 after acquiring an additional 435,646 shares during the last quarter. SG Americas Securities LLC grew its holdings in Newmark Group by 244.6% during the 4th quarter. SG Americas Securities LLC now owns 408,974 shares of the company's stock worth $7,092,000 after acquiring an additional 290,302 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Newmark Group by 319.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,604,326 shares of the company's stock valued at $27,819,000 after acquiring an additional 1,222,069 shares in the last quarter. Finally, LBP AM SA acquired a new stake in Newmark Group in the 4th quarter valued at about $4,940,000. 58.42% of the stock is owned by institutional investors.

Newmark Group Stock Down 0.7%

Shares of NASDAQ:NMRK opened at $15.09 on Tuesday. Newmark Group, Inc. has a one year low of $12.06 and a one year high of $19.83. The company has a 50 day moving average of $15.08 and a 200-day moving average of $15.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 18.63 and a beta of 1.68.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.08 earnings per share for the quarter. Newmark Group had a net margin of 4.30% and a return on equity of 26.23%. The business had revenue of $846.52 million during the quarter. On average, sell-side analysts forecast that Newmark Group, Inc. will post 1.91 earnings per share for the current year.

Newmark Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Thursday, May 14th. This is a positive change from Newmark Group's previous quarterly dividend of $0.03. Newmark Group's dividend payout ratio is presently 29.63%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NMRK. Weiss Ratings raised shares of Newmark Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 11th. Citizens Jmp upped their price objective on Newmark Group from $21.00 to $22.00 and gave the stock a "market outperform" rating in a report on Friday, May 1st. Wall Street Zen upgraded Newmark Group from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Keefe, Bruyette & Woods lifted their target price on Newmark Group from $18.00 to $18.50 and gave the company an "outperform" rating in a research note on Friday, May 1st. Finally, Piper Sandler restated an "overweight" rating and set a $19.00 target price on shares of Newmark Group in a research report on Monday, June 29th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $19.62.

About Newmark Group

Newmark Group, Inc is a publicly traded commercial real estate advisory firm headquartered in New York City. The company provides a comprehensive suite of services to real estate investors, occupiers and developers, including leasing advisory, property management, capital markets placement, loan servicing, valuation and advisory services. Newmark's platform integrates local market expertise with national reach to support clients across diverse property types such as office, industrial, retail, multifamily and specialty assets.

Operating across two principal segments—global corporate services and capital markets & property-level services—Newmark delivers tailored solutions encompassing tenant representation, landlord leasing, investment sales, debt and equity financing, and appraisal services.

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