Newmark Group, Inc. $NMRK Shares Sold by Empowered Funds LLC

Key Points

• Empowered Funds LLC decreased its stake in Newmark Group by 24.0%, selling 188,809 shares and owning 0.33% of the company, valued at approximately $7.3 million.
• Newmark Group reported earnings of $0.31 per share for the last quarter, exceeding expectations of $0.26, with revenues increasing by 19.9% year-over-year.
• Recent analyst ratings for Newmark Group include a strong-buy by Citizens JMP and price target increases from $16.00 to $19.00 by Piper Sandler, reflecting positive market sentiment.

Empowered Funds LLC lessened its position in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 24.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 598,773 shares of the company's stock after selling 188,809 shares during the quarter. Empowered Funds LLC owned approximately 0.33% of Newmark Group worth $7,287,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NMRK. Northern Trust Corp grew its position in Newmark Group by 1.5% during the fourth quarter. Northern Trust Corp now owns 1,474,824 shares of the company's stock valued at $18,892,000 after buying an additional 21,586 shares during the period. Jane Street Group LLC grew its position in shares of Newmark Group by 12.4% in the fourth quarter. Jane Street Group LLC now owns 157,303 shares of the company's stock valued at $2,015,000 after purchasing an additional 17,302 shares during the period. Captrust Financial Advisors grew its position in shares of Newmark Group by 36.6% in the fourth quarter. Captrust Financial Advisors now owns 73,398 shares of the company's stock valued at $940,000 after purchasing an additional 19,660 shares during the period. Cetera Investment Advisers grew its position in shares of Newmark Group by 2.7% in the fourth quarter. Cetera Investment Advisers now owns 53,635 shares of the company's stock valued at $687,000 after purchasing an additional 1,385 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Newmark Group by 75.5% in the fourth quarter. Deutsche Bank AG now owns 566,648 shares of the company's stock valued at $7,259,000 after purchasing an additional 243,806 shares during the period. Institutional investors and hedge funds own 58.42% of the company's stock.

Newmark Group Trading Down 1.3%

Shares of Newmark Group stock traded down $0.25 on Tuesday, reaching $18.95. The company had a trading volume of 230,111 shares, compared to its average volume of 1,192,208. The firm's 50 day moving average price is $15.95 and its two-hundred day moving average price is $13.11. The firm has a market cap of $3.35 billion, a PE ratio of 45.11 and a beta of 2.08. Newmark Group, Inc. has a 52-week low of $9.65 and a 52-week high of $19.70. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.39 and a current 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 analysts' consensus estimates of $0.26 by $0.05. The business had revenue of $759.10 million for the quarter, compared to the consensus estimate of $695.24 million. Newmark Group had a net margin of 2.51% and a return on equity of 22.73%. The business's revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. Sell-side analysts predict that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Thursday, August 14th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 14th. Newmark Group's payout ratio is 28.57%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NMRK shares. Wall Street Zen upgraded shares of Newmark Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. JMP Securities lifted their target price on shares of Newmark Group from $17.00 to $19.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Wolfe Research upgraded shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 target price on the stock in a research report on Friday, May 23rd. Piper Sandler lifted their target price on shares of Newmark Group from $16.00 to $19.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Newmark Group from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $16.83.

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.