Millennium Management LLC Has $44.25 Million Stock Position in Newmark Group, Inc. $NMRK

Key Points

• Millennium Management LLC significantly increased its stake in Newmark Group, lifting its position by 89.7% to own over 3.6 million shares, valued at approximately $44 million.
• Newmark Group reported a 19.9% year-over-year revenue growth, reaching $759.10 million for the quarter and exceeding analysts' expectations for earnings per share.
• The company received a consensus rating of "Buy" from analysts, with a current average target price of $16.83.

Millennium Management LLC grew its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 89.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,635,561 shares of the company's stock after buying an additional 1,719,375 shares during the quarter. Millennium Management LLC owned 2.01% of Newmark Group worth $44,245,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new position in Newmark Group during the first quarter worth $26,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Newmark Group during the first quarter valued at $47,000. KBC Group NV acquired a new position in shares of Newmark Group during the first quarter valued at $78,000. CWM LLC increased its holdings in shares of Newmark Group by 63.8% during the first quarter. CWM LLC now owns 7,693 shares of the company's stock valued at $94,000 after purchasing an additional 2,996 shares during the period. Finally, Xponance Inc. acquired a new position in Newmark Group during the first quarter worth about $122,000. 58.42% of the stock is currently owned by institutional investors.

Newmark Group Trading Up 0.2%

Shares of NMRK traded up $0.04 during trading hours on Friday, hitting $19.28. 1,859,853 shares of the stock traded hands, compared to its average volume of 1,283,899. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.58. Newmark Group, Inc. has a 1-year low of $9.65 and a 1-year high of $19.70. The firm has a market capitalization of $3.41 billion, a PE ratio of 45.91 and a beta of 2.08. The business has a fifty day moving average of $15.82 and a 200-day moving average of $13.08.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.31 earnings per share 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 analyst estimates of $695.24 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The company's quarterly 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. Analysts expect that Newmark Group, Inc. will post 1.45 EPS for the current year.

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 14th were given a dividend of $0.03 per share. 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 payout ratio is 28.57%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NMRK shares. Keefe, Bruyette & Woods lifted their price target on Newmark Group from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. 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 report on Friday, May 23rd. Wall Street Zen upgraded Newmark Group from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Citizens Jmp began coverage on Newmark Group in a report on Monday, July 21st. They set a "strong-buy" rating and a $17.00 price target for the company. Finally, Piper Sandler lifted their price target on Newmark Group from $16.00 to $19.00 and gave the company an "overweight" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat.com, the company has a consensus 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.