Magnetar Financial LLC Buys New Shares in Newmark Group, Inc. $NMRK

Key Points

• Magnetar Financial LLC has acquired a new position in Newmark Group, Inc., purchasing 21,808 shares valued at approximately $265,000.
• A number of analysts have upgraded Newmark Group's ratings, with a consensus target price now at $16.83, indicating positive outlook for the stock.
• Newmark Group recently reported a 19.9% year-over-year revenue increase and a quarterly EPS of $0.31, surpassing analyst expectations.

Magnetar Financial LLC purchased a new position in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 21,808 shares of the company's stock, valued at approximately $265,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NMRK. Financial Management Professionals Inc. bought a new position in shares of Newmark Group in the 1st quarter worth $26,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Newmark Group in the 1st quarter worth $47,000. KBC Group NV bought a new position in shares of Newmark Group in the 1st quarter worth $78,000. CWM LLC boosted its position in shares of Newmark Group by 63.8% in the 1st quarter. CWM LLC now owns 7,693 shares of the company's stock worth $94,000 after purchasing an additional 2,996 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position 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 purchasing an additional 3,070 shares during the last quarter. 58.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NMRK. JMP Securities raised their price target on Newmark Group from $17.00 to $19.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Wolfe Research upgraded Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 target price on the stock in a report on Friday, May 23rd. Piper Sandler lifted their target price on Newmark Group from $16.00 to $19.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Wall Street Zen upgraded Newmark Group from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Citizens Jmp began 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 analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $16.83.

Newmark Group Stock Up 3.6%

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

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $695.24 million. During the same quarter last year, the business posted $0.22 EPS. The company's revenue for the quarter 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 anticipate that Newmark Group, Inc. will post 1.45 EPS for the current year.

Newmark Group Announces Dividend

The company also recently declared 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 of this dividend was Thursday, August 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.6%. Newmark Group's dividend payout ratio (DPR) is currently 28.57%.

Newmark Group Profile

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.