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

A number of other hedge funds also recently bought and sold shares of NMRK. Tower Research Capital LLC TRC increased its holdings in Newmark Group by 48.7% during the 4th 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. Price T Rowe Associates Inc. MD boosted its position in 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 valued at $1,621,000 after acquiring an additional 11,173 shares in the last quarter. Voya Investment Management LLC boosted its position in Newmark Group by 4.3% during the 4th quarter. Voya Investment Management LLC now owns 68,594 shares of the company's stock valued at $879,000 after acquiring an additional 2,844 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in Newmark Group during the 4th quarter valued at approximately $1,157,000. Finally, Northern Trust Corp boosted its position in Newmark Group by 1.5% during the 4th quarter. Northern Trust Corp now owns 1,474,824 shares of the company's stock valued at $18,892,000 after acquiring an additional 21,586 shares in the last quarter. Hedge funds and other institutional investors own 58.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JMP Securities lifted their price objective on Newmark Group from $17.00 to $19.00 and gave the company a "market outperform" rating in a research 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. Citizens Jmp assumed coverage on Newmark Group in a research report on Monday, July 21st. They set a "strong-buy" rating and a $17.00 price objective on the stock. Wall Street Zen raised Newmark Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Wolfe Research raised Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price objective on the stock in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, Newmark Group currently has an average rating of "Buy" and an average price target of $16.83.

Newmark Group Price Performance

Shares of NMRK opened at $18.21 on Tuesday. The firm has a market cap of $3.22 billion, a PE ratio of 43.36 and a beta of 2.08. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $14.69 and a two-hundred day simple moving average of $12.82. Newmark Group, Inc. has a 1-year low of $9.65 and a 1-year high of $18.59.

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

Newmark Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.7%. 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.

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