Raymond James Financial Inc. Increases Stake in Newmark Group, Inc. $NMRK

Key Points

• Raymond James Financial Inc. has increased its holdings in Newmark Group, Inc. by 93.9% during the first quarter, owning 724,339 shares valued at approximately $8.8 million.
• Wall Street analysts have raised their price targets for Newmark Group, with JMP Securities and Piper Sandler both setting targets of $19.00, reflecting a positive outlook for the company's performance.
• Newmark Group's shares opened at $18.21 and the company recently reported earnings of $0.31 per share, surpassing analyst estimates and reflecting a revenue increase of 19.9% year-over-year.

Raymond James Financial Inc. grew its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 93.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 724,339 shares of the company's stock after purchasing an additional 350,807 shares during the quarter. Raymond James Financial Inc. owned approximately 0.40% of Newmark Group worth $8,815,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Sei Investments Co. boosted its stake in shares of Newmark Group by 1.2% during the first quarter. Sei Investments Co. now owns 122,117 shares of the company's stock valued at $1,519,000 after purchasing an additional 1,426 shares during the period. Boston Partners lifted its stake in Newmark Group by 593.5% in the first quarter. Boston Partners now owns 1,339,730 shares of the company's stock worth $16,299,000 after acquiring an additional 1,146,544 shares during the period. Nuveen LLC purchased a new stake in Newmark Group in the first quarter worth about $21,497,000. PNC Financial Services Group Inc. lifted its stake in Newmark Group by 9.5% in the first quarter. PNC Financial Services Group Inc. now owns 14,396 shares of the company's stock worth $175,000 after acquiring an additional 1,250 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in Newmark Group in the first quarter worth about $1,127,000. 58.42% of the stock is owned by hedge funds and other institutional investors.

Newmark Group Stock Up 3.6%

Shares of NMRK traded up $0.64 during mid-day trading on Friday, hitting $18.56. 1,114,553 shares of the company traded hands, compared to its average volume of 1,360,103. Newmark Group, Inc. has a 1-year low of $9.65 and a 1-year high of $18.61. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $3.28 billion, a PE ratio of 44.19 and a beta of 2.08. The business has a 50 day moving average of $15.16 and a 200 day moving average of $12.93.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $695.24 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The company's revenue for the quarter was up 19.9% compared to the same quarter last year. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. Equities research analysts anticipate that Newmark Group, Inc. will post 1.45 EPS for the current year.

Newmark Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 14th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, August 14th. Newmark Group's dividend payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NMRK shares. Wolfe Research raised shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price objective for the company in a research note on Friday, May 23rd. Keefe, Bruyette & Woods upped 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. Piper Sandler upped their price objective 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. Citizens Jmp started coverage on shares of Newmark Group in a research note on Monday, July 21st. They issued a "strong-buy" rating and a $17.00 price objective for the company. Finally, Wall Street Zen raised shares of Newmark Group from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $16.83.

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.