US Bancorp DE Buys 41,772 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Key Points

• US Bancorp DE significantly increased its stake in Newmark Group, Inc. by 2,354.7% during Q1, owning 43,546 shares worth $530,000 at the end of the reporting period.
• Analysts are optimistic about Newmark Group, with recent upgrades leading to a consensus rating of "Buy" and an average target price of $16.83.
• Newmark Group reported a 19.9% increase in revenue year-over-year, with EPS of $0.31, exceeding analyst expectations.

US Bancorp DE lifted its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 2,354.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,546 shares of the company's stock after acquiring an additional 41,772 shares during the quarter. US Bancorp DE's holdings in Newmark Group were worth $530,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new position in shares of Newmark Group during the first quarter valued at approximately $26,000. Sterling Capital Management LLC raised its holdings in shares of Newmark Group by 813.9% during the fourth quarter. Sterling Capital Management LLC now owns 4,149 shares of the company's stock valued at $53,000 after acquiring an additional 3,695 shares in the last quarter. KBC Group NV bought a new position in shares of Newmark Group during the first quarter valued at approximately $78,000. CWM LLC raised 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 acquiring an additional 2,996 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Newmark Group by 48.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company's stock valued at $120,000 after acquiring an additional 3,070 shares in the last quarter. Institutional investors own 58.42% of the company's stock.

Newmark Group Stock Down 0.5%

NMRK traded down $0.08 during trading on Friday, reaching $17.29. The stock had a trading volume of 1,216,337 shares, compared to its average volume of 1,722,469. The stock's 50 day moving average is $13.28 and its two-hundred day moving average is $12.53. The company has a current ratio of 0.39, a quick ratio of 0.47 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 41.17 and a beta of 2.04. Newmark Group, Inc. has a one year low of $9.65 and a one year high of $17.47.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.05. The business had revenue of $759.10 million during the quarter, compared to the consensus estimate of $695.24 million. Newmark Group had a return on equity of 22.73% and a net margin of 2.51%. The firm's quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.22 earnings per share. As a group, analysts expect that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.03 per share. The ex-dividend date is Thursday, August 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.7%. Newmark Group's dividend payout ratio (DPR) is presently 28.57%.

Analysts Set New Price Targets

A number of equities analysts recently commented on NMRK shares. Citizens Jmp started coverage on Newmark Group in a report on Monday, July 21st. They set a "strong-buy" rating and a $17.00 target price for the company. Wall Street Zen upgraded Newmark Group from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Piper Sandler upped their target price on Newmark Group from $16.00 to $19.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Keefe, Bruyette & Woods upped their target price on Newmark Group from $14.00 to $15.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. 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 report on Friday, May 23rd. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock 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.