Northern Trust Corp Sells 57,062 Shares of Newmark Group, Inc. $NMRK

Key Points

• Northern Trust Corp reduced its stake in Newmark Group, Inc. by 3.9%, holding 1,417,762 shares valued at $17.25 million after selling 57,062 shares in the first quarter.
• Newmark Group reported a 19.9% year-over-year increase in revenue, reaching $759.10 million, and exceeded EPS estimates by $0.05, reporting $0.31 EPS for the quarter.
• The company has announced a quarterly dividend of $0.03, reflecting a 0.7% dividend yield and a payout ratio of 28.57% as of the last payment date.

Northern Trust Corp decreased its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,417,762 shares of the company's stock after selling 57,062 shares during the quarter. Northern Trust Corp owned about 0.79% of Newmark Group worth $17,254,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NMRK. Tower Research Capital LLC TRC grew its position in shares of Newmark Group by 48.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company's stock worth $120,000 after buying an additional 3,070 shares during the period. Price T Rowe Associates Inc. MD grew 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 buying an additional 11,173 shares during the period. Voya Investment Management LLC grew its position in shares of Newmark Group by 4.3% during the 4th quarter. Voya Investment Management LLC now owns 68,594 shares of the company's stock worth $879,000 after buying an additional 2,844 shares during the period. Tudor Investment Corp ET AL bought a new position in Newmark Group during the 4th quarter worth approximately $1,157,000. Finally, Jane Street Group LLC boosted its stake in Newmark Group by 12.4% during the 4th quarter. Jane Street Group LLC now owns 157,303 shares of the company's stock worth $2,015,000 after acquiring an additional 17,302 shares during the last quarter. Institutional investors and hedge funds own 58.42% of the company's stock.

Newmark Group Stock Up 3.6%

NMRK traded up $0.64 during trading on Friday, reaching $18.56. The company had a trading volume of 1,114,553 shares, compared to its average volume of 1,354,131. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.39 and a quick ratio of 0.39. Newmark Group, Inc. has a 12 month low of $9.65 and a 12 month high of $18.61. The business's fifty day moving average price is $15.16 and its 200 day moving average price is $12.91. The company has a market cap of $3.28 billion, a P/E ratio of 44.19 and a beta of 2.08.

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

Newmark Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Thursday, August 14th were given 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 currently 28.57%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wolfe Research raised shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price objective on the stock in a research note on Friday, May 23rd. Citizens Jmp assumed coverage on shares of Newmark Group in a research note on Monday, July 21st. They set a "strong-buy" rating and a $17.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective 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. Wall Street Zen raised shares of Newmark Group from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, 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. One investment 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 an average price target of $16.83.

Newmark Group Company 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.