Rhumbline Advisers Trims Stock Position in Newmark Group, Inc. $NMRK

Key Points

• Rhumbline Advisers has reduced its stake in Newmark Group, Inc. by 6.1%, selling 14,413 shares and now owning 222,602 shares valued at approximately $2.7 million.
• Newmark Group reported a quarterly earnings per share of $0.31, surpassing expectations, with a total revenue of $759.1 million, marking a 19.9% increase year-over-year.
• The company's quarterly dividend of $0.03 reflects a 0.6% yield with a payout ratio of 28.57%, with recent analyst ratings indicating an overall positive sentiment towards the stock.

Rhumbline Advisers cut its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 6.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 222,602 shares of the company's stock after selling 14,413 shares during the period. Rhumbline Advisers owned approximately 0.12% of Newmark Group worth $2,709,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Strs Ohio purchased a new position in Newmark Group in the 1st quarter valued at about $298,000. Intech Investment Management LLC increased its holdings in shares of Newmark Group by 39.3% during the 1st quarter. Intech Investment Management LLC now owns 127,299 shares of the company's stock worth $1,549,000 after buying an additional 35,926 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Newmark Group by 148.3% during the 1st quarter. Jane Street Group LLC now owns 390,633 shares of the company's stock worth $4,754,000 after buying an additional 233,330 shares during the last quarter. Aristeia Capital L.L.C. acquired a new stake in Newmark Group in the 1st quarter valued at approximately $481,000. Finally, Caxton Associates LLP acquired a new stake in Newmark Group in the 1st quarter valued at approximately $276,000. 58.42% of the stock is owned by hedge funds and other institutional investors.

Newmark Group Stock Performance

Shares of NASDAQ:NMRK traded down $0.35 on Friday, reaching $19.23. The company's stock had a trading volume of 4,045,710 shares, compared to its average volume of 1,321,499. Newmark Group, Inc. has a 52-week low of $9.65 and a 52-week high of $19.78. 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 stock's 50-day moving average is $16.50 and its two-hundred day moving average is $13.27. The stock has a market capitalization of $3.40 billion, a P/E ratio of 45.79 and a beta of 2.08.

Newmark Group (NASDAQ:NMRK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping 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 business had revenue of $759.10 million for the quarter, compared to analyst estimates of $695.24 million. During the same period in the previous year, the business posted $0.22 earnings per share. The business's revenue 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. As a group, sell-side analysts forecast 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 given a dividend of $0.03 per share. 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 presently 28.57%.

Analyst Ratings Changes

Several research firms recently weighed in on NMRK. Piper Sandler lifted their target price on shares of Newmark Group from $16.00 to $19.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Wolfe Research upgraded shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price target for the company in a research note on Friday, May 23rd. JMP Securities boosted their price target on shares of Newmark Group from $17.00 to $19.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 31st. Wall Street Zen upgraded shares of Newmark Group from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, 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 target for the company. One research 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, the company presently has a consensus rating of "Buy" and an average price target 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.