Newmark Group, Inc. $NMRK Shares Newly Acquired by Point Nemo Capital LLC

Key Points

• Point Nemo Capital opened a Newmark Group position in the third quarter, buying 92,423 shares valued at approximately $1.13 million; institutional investors and hedge funds owned 58.42% of shares.
• Newmark reported quarterly EPS of $0.48, slightly above estimates, while revenue of $973.2 million beat forecasts and rose 12.7% year over year.
• Analyst views were mixed, with a consensus Hold rating and a $17.60 price target. Shares opened at $11.91, near their 12-month low of $11.13.

Point Nemo Capital LLC purchased a new position in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 92,423 shares of the company's stock, valued at approximately $1,133,000. Point Nemo Capital LLC owned 0.05% of Newmark Group at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Nykredit A S acquired a new position in shares of Newmark Group during the second quarter valued at approximately $41,000. Ancora Advisors LLC bought a new stake in Newmark Group during the second quarter worth approximately $45,000. Signaturefd LLC raised its holdings in Newmark Group by 87.4% during the third quarter. Signaturefd LLC now owns 5,863 shares of the company's stock worth $72,000 after purchasing an additional 2,735 shares in the last quarter. Fifth Third Bancorp lifted its position in Newmark Group by 9,157.7% in the first quarter. Fifth Third Bancorp now owns 8,980 shares of the company's stock worth $135,000 after purchasing an additional 8,883 shares during the period. Finally, Ethic Inc. acquired a new stake in Newmark Group in the third quarter worth approximately $138,000. 58.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NMRK. Piper Sandler lowered Newmark Group from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $14.00 to $13.00 in a research note on Monday, October 19th. Wall Street Zen downgraded Newmark Group from a "buy" rating to a "hold" rating in a research note on Saturday, October 24th. Citizens Jmp dropped their price objective on Newmark Group from $22.00 to $17.00 and set a "market outperform" rating on the stock in a research note on Thursday, October 22nd. Barclays upped their price objective on Newmark Group from $19.00 to $20.00 and gave the company an "overweight" rating in a report on Monday, August 17th. Finally, Keefe, Bruyette & Woods decreased their target price on Newmark Group from $17.50 to $16.00 and set an "outperform" rating for the company in a research note on Friday, October 9th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $17.60.

Newmark Group Stock Performance

Shares of NMRK opened at $11.91 on Friday. The firm's 50 day moving average is $12.91 and its 200-day moving average is $14.74. The stock has a market capitalization of $2.16 billion, a P/E ratio of 14.35 and a beta of 1.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.55 and a quick ratio of 0.55. Newmark Group, Inc. has a 12-month low of $11.13 and a 12-month high of $18.25.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.01. Newmark Group had a net margin of 4.07% and a return on equity of 27.61%. The business had revenue of $973.20 million for the quarter, compared to the consensus estimate of $957.78 million. During the same period in the previous year, the firm earned $0.42 EPS. The business's revenue for the quarter was up 12.7% on a year-over-year basis. Equities research analysts anticipate that Newmark Group, Inc. will post 1.86 EPS for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be given a $0.06 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.24 annualized dividend and a yield of 2.0%. Newmark Group's payout ratio is 28.92%.

About Newmark Group

Newmark Group, Inc is a global commercial real estate services company that provides advisory, transaction, and management services to occupiers, owners, investors, and developers. Its services cover office, industrial, retail, multifamily, hospitality, and other commercial property sectors.

The company assists clients with leasing, investment sales, acquisition and disposition advisory, debt and structured finance, valuation, consulting, and property and facilities management. Newmark also provides corporate real estate services, workplace strategy, capital markets advice, and technology-enabled data and research solutions.

Newmark serves clients through operations in major real estate markets across North America, Europe, Asia-Pacific, and other international regions.

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