Picton Mahoney Asset Management Raises Position in Newmark Group, Inc. (NASDAQ:NMRK)

Key Points

• Picton Mahoney Asset Management significantly increased its stake in Newmark Group by 114,890.8%, acquiring an additional 87,317 shares during Q1, bringing their total holdings to 87,393 shares valued at approximately $1,065,000.
• Newmark Group reported $0.31 earnings per share for the latest quarter, exceeding analysts' expectations of $0.26, with a revenue of $759.10 million, up 19.9% from the previous year.
• Equity analysts remain optimistic about Newmark Group, with a consensus rating of "Buy" and an average target price of $16.00 amidst various price adjustments from top firms.

Picton Mahoney Asset Management grew its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 114,890.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,393 shares of the company's stock after purchasing an additional 87,317 shares during the period. Picton Mahoney Asset Management's holdings in Newmark Group were worth $1,065,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NMRK. Financial Management Professionals Inc. acquired a new position in shares of Newmark Group in the 1st quarter valued at $26,000. Sterling Capital Management LLC increased its position in shares of Newmark Group by 813.9% in the 4th quarter. Sterling Capital Management LLC now owns 4,149 shares of the company's stock valued at $53,000 after acquiring an additional 3,695 shares during the period. KBC Group NV acquired a new position in shares of Newmark Group in the 1st quarter valued at $78,000. CWM LLC increased its position in shares of Newmark Group by 63.8% in the 1st quarter. CWM LLC now owns 7,693 shares of the company's stock valued at $94,000 after acquiring an additional 2,996 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of Newmark Group by 48.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company's stock valued at $120,000 after acquiring an additional 3,070 shares during the period. Hedge funds and other institutional investors own 58.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NMRK shares. Piper Sandler cut their price target on Newmark Group from $19.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Wall Street Zen raised Newmark Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. JMP Securities increased their price target on Newmark Group from $17.00 to $19.00 and gave the stock a "market outperform" rating in a research report on Thursday. Citizens Jmp started coverage on Newmark Group in a research report on Monday, July 21st. They set a "strong-buy" rating and a $17.00 price target on the stock. Finally, Wolfe Research raised Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price target on the stock in a research report on Friday, May 23rd. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Newmark Group currently has a consensus rating of "Buy" and a consensus price target of $16.33.

Newmark Group Price Performance

Shares of NASDAQ:NMRK traded down $0.05 during trading on Friday, reaching $15.12. 2,062,289 shares of the company's stock traded hands, compared to its average volume of 1,381,059. Newmark Group, Inc. has a fifty-two week low of $9.65 and a fifty-two week high of $16.10. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.50. The firm has a market cap of $2.79 billion, a PE ratio of 36.00 and a beta of 2.04. The company has a 50-day simple moving average of $12.10 and a 200-day simple moving average of $12.32.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.05. Newmark Group had a return on equity of 22.71% and a net margin of 2.51%. The firm had revenue of $759.10 million for the quarter, compared to analysts' expectations of $695.24 million. During the same period last year, the firm earned $0.22 EPS. The company's quarterly revenue was up 19.9% on a year-over-year basis. As a group, analysts predict that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Announces Dividend

The business 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 $0.03 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.8%. Newmark Group's dividend payout ratio (DPR) is currently 28.57%.

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.