Algert Global LLC Purchases 317,216 Shares of Newmark Group, Inc. $NMRK

Key Points

• Algert Global LLC significantly increased its stake in Newmark Group by 415.3%, owning 393,602 shares valued at approximately $4.79 million as of its latest SEC filing.
• Newmark Group recently reported a quarterly earnings per share of $0.31, exceeding analysts' estimates of $0.26, with revenue rising 19.9% year-over-year to $759.10 million.
• The company announced a quarterly dividend of $0.03 per share, representing an annualized yield of 0.7%, set to be paid on August 29th.

Algert Global LLC lifted its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 415.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 393,602 shares of the company's stock after acquiring an additional 317,216 shares during the quarter. Algert Global LLC owned approximately 0.22% of Newmark Group worth $4,790,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Financial Management Professionals Inc. purchased a new stake in Newmark Group during the 1st quarter valued at $26,000. Sterling Capital Management LLC raised its stake in shares of Newmark Group by 813.9% in the fourth quarter. Sterling Capital Management LLC now owns 4,149 shares of the company's stock worth $53,000 after purchasing an additional 3,695 shares during the last quarter. KBC Group NV purchased a new position in shares of Newmark Group in the first quarter worth about $78,000. CWM LLC raised its position in 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 grew its holdings 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 valued at $120,000 after purchasing an additional 3,070 shares during the period. 58.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NMRK shares. Wall Street Zen raised Newmark Group from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Citizens Jmp began coverage on Newmark Group in a report on Monday, July 21st. They set a "strong-buy" rating and a $17.00 price objective for the company. JMP Securities boosted their price target on Newmark Group from $17.00 to $19.00 and gave the stock a "market outperform" rating in a report on Thursday, July 31st. Piper Sandler lifted their price objective on Newmark Group from $16.00 to $19.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Finally, Wolfe Research upgraded 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. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $16.83.

Newmark Group Price Performance

Shares of NMRK traded up $0.98 during trading hours on Friday, hitting $18.14. 1,760,196 shares of the company were exchanged, compared to its average volume of 1,180,955. The company has a market capitalization of $3.21 billion, a PE ratio of 43.19 and a beta of 2.04. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a fifty day simple moving average of $13.73 and a 200-day simple moving average of $12.63. Newmark Group, Inc. has a one year low of $9.65 and a one year high of $18.39.

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

Newmark Group Dividend Announcement

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

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.