Empowered Funds LLC Sells 188,809 Shares of Newmark Group, Inc. $NMRK

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 lowered its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 24.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 598,773 shares of the company's stock after selling 188,809 shares during the quarter. Empowered Funds LLC owned 0.33% of Newmark Group worth $7,287,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northern Trust Corp grew its stake in shares of Newmark Group by 1.5% in the 4th quarter. Northern Trust Corp now owns 1,474,824 shares of the company's stock worth $18,892,000 after acquiring an additional 21,586 shares in the last quarter. Jane Street Group LLC boosted its holdings in Newmark Group by 12.4% during the fourth quarter. Jane Street Group LLC now owns 157,303 shares of the company's stock worth $2,015,000 after purchasing an additional 17,302 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Newmark Group by 36.6% during the fourth quarter. Captrust Financial Advisors now owns 73,398 shares of the company's stock worth $940,000 after purchasing an additional 19,660 shares during the last quarter. Cetera Investment Advisers grew its position in Newmark Group by 2.7% in the 4th quarter. Cetera Investment Advisers now owns 53,635 shares of the company's stock worth $687,000 after purchasing an additional 1,385 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in Newmark Group by 75.5% in the 4th quarter. Deutsche Bank AG now owns 566,648 shares of the company's stock valued at $7,259,000 after buying an additional 243,806 shares during the last quarter. 58.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Newmark Group Stock Performance

NASDAQ NMRK traded up $0.04 on Friday, hitting $19.28. 1,859,853 shares of the stock traded hands, compared to its average volume of 1,251,721. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.39 and a current ratio of 0.39. The business's fifty day moving average is $15.82 and its two-hundred day moving average is $13.09. Newmark Group, Inc. has a 12 month low of $9.65 and a 12 month high of $19.70. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 45.91 and a beta of 2.08.

Newmark Group (NASDAQ:NMRK - Get Free Report) last issued its 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. The firm had revenue of $759.10 million for the quarter, compared to analyst estimates of $695.24 million. Newmark Group had a return on equity of 22.73% and a net margin of 2.51%.The business's revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. As a group, equities analysts anticipate that Newmark Group, Inc. will post 1.45 EPS for the current fiscal year.

Newmark Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 14th were issued 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 yield of 0.6%. Newmark Group's dividend payout ratio is 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.