Newmark Group, Inc. $NMRK Shares Sold by Bridgeway Capital Management LLC

Key Points

• Bridgeway Capital Management LLC has decreased its stake in Newmark Group, Inc. by 22.3%, reducing its ownership to approximately 1.3 million shares valued at $15.8 million.
• Several institutional investors have recently adjusted their positions, with OneDigital Investment Advisors LLC increasing its stake by 10.4% and PNC Financial Services Group Inc. raising theirs by 9.5% during the first quarter.
• Newmark Group reported $0.31 EPS for its last quarter, exceeding analysts' expectations of $0.26, and announced a quarterly dividend of $0.03 per share.

Bridgeway Capital Management LLC trimmed its position in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 22.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,301,226 shares of the company's stock after selling 373,935 shares during the quarter. Bridgeway Capital Management LLC owned about 0.72% of Newmark Group worth $15,836,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NMRK. 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 during the period. Price T Rowe Associates Inc. MD increased its position in shares of Newmark Group by 9.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 126,534 shares of the company's stock worth $1,621,000 after purchasing an additional 11,173 shares during the last quarter. Voya Investment Management LLC raised its holdings in Newmark Group by 4.3% in the 4th quarter. Voya Investment Management LLC now owns 68,594 shares of the company's stock valued at $879,000 after buying an additional 2,844 shares during the period. Northern Trust Corp lifted its position in Newmark Group by 1.5% in 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 last quarter. Finally, Jane Street Group LLC boosted its stake 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 buying an additional 17,302 shares during the period. Institutional investors and hedge funds own 58.42% of the company's stock.

Newmark Group Stock Down 2.2%

Shares of Newmark Group stock traded down $0.42 during trading on Tuesday, hitting $18.40. 287,611 shares of the stock were exchanged, compared to its average volume of 1,189,462. 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's 50-day moving average price is $15.29 and its 200 day moving average price is $12.95. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 43.73 and a beta of 2.08. Newmark Group, Inc. has a 12-month low of $9.65 and a 12-month high of $18.90.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.05. The company had revenue of $759.10 million for the quarter, compared to analysts' expectations of $695.24 million. Newmark Group had a return on equity of 22.73% and a net margin of 2.51%.Newmark Group's quarterly revenue was up 19.9% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. As a group, analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Thursday, August 14th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 14th. Newmark Group's dividend payout ratio is 28.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citizens Jmp assumed coverage on shares of Newmark Group in a research report on Monday, July 21st. They set a "strong-buy" rating and a $17.00 price objective for the company. Piper Sandler boosted their price target on shares of Newmark Group from $16.00 to $19.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Keefe, Bruyette & Woods increased their price objective on Newmark Group from $14.00 to $15.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. 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. Finally, Wall Street Zen upgraded Newmark Group from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to MarketBeat.com, Newmark Group has a consensus rating of "Buy" and an average price target of $16.83.

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.