Panagora Asset Management Inc. Reduces Position in Newmark Group, Inc. $NMRK

Key Points

• Panagora Asset Management Inc. significantly reduced its stake in Newmark Group, Inc. by 64.4%, selling 338,584 shares and holding approximately 0.10% of the company, worth around $2.28 million.
• Newmark Group's stock has received several positive ratings changes from analysts, with a current average rating of "Buy" and an average price target of $16.83.
• The company recently reported earnings of $0.31 per share, exceeding estimates, along with a 19.9% increase in quarterly revenue compared to the previous year.

Panagora Asset Management Inc. trimmed its position in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 64.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 187,221 shares of the company's stock after selling 338,584 shares during the quarter. Panagora Asset Management Inc. owned about 0.10% of Newmark Group worth $2,278,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new stake in shares of Newmark Group in the first quarter worth about $26,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Newmark Group in the first quarter worth about $47,000. KBC Group NV purchased a new position in Newmark Group in the first quarter worth about $78,000. CWM LLC grew its position in Newmark Group by 63.8% in the first quarter. CWM LLC now owns 7,693 shares of the company's stock worth $94,000 after acquiring an additional 2,996 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Newmark Group by 48.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company's stock worth $120,000 after acquiring an additional 3,070 shares in the last quarter. 58.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on NMRK. Citizens Jmp began coverage on Newmark Group in a research report on Monday, July 21st. They issued a "strong-buy" rating and a $17.00 price target for the company. Keefe, Bruyette & Woods boosted their target price on Newmark Group from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Piper Sandler lifted their price target on shares of Newmark Group from $16.00 to $19.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Wolfe Research raised shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price target for the company in a research note on Friday, May 23rd. Finally, JMP Securities lifted their price target on shares of Newmark Group from $17.00 to $19.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $16.83.

Newmark Group Stock Up 3.6%

NASDAQ:NMRK traded up $0.64 during trading hours on Friday, reaching $18.56. The company's stock had a trading volume of 1,114,553 shares, compared to its average volume of 1,360,103. The company has a market capitalization of $3.28 billion, a P/E ratio of 44.19 and a beta of 2.08. Newmark Group, Inc. has a 12 month low of $9.65 and a 12 month high of $18.61. 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 stock has a 50 day moving average price of $15.16 and a two-hundred day moving average price of $12.93.

Newmark Group (NASDAQ:NMRK - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.05. The company had revenue of $759.10 million during 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%. Newmark Group's revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. Equities analysts predict that Newmark Group, Inc. will post 1.45 EPS for the current fiscal year.

Newmark Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.6%. Newmark Group's dividend payout ratio is presently 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.