Strs Ohio Makes New $298,000 Investment in Newmark Group, Inc. $NMRK

Key Points

• Strs Ohio made a new investment worth $298,000 in Newmark Group, acquiring 24,500 shares in the first quarter, according to its latest SEC filing.
• Newmark Group reported a 19.9% increase in revenue year-over-year, with earnings per share of $0.31 for the last quarter, surpassing analysts' expectations.
• Analysts have noted a positive outlook for Newmark Group, raising its ratings and price targets, with the average target price now at $16.83.

Strs Ohio purchased a new position in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,500 shares of the company's stock, valued at approximately $298,000.

Other hedge funds also recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new position in Newmark Group during the first quarter worth $26,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Newmark Group during the first quarter worth $47,000. KBC Group NV purchased a new position in Newmark Group during the first quarter worth $78,000. CWM LLC grew its position in shares of Newmark Group by 63.8% in the first quarter. CWM LLC now owns 7,693 shares of the company's stock valued at $94,000 after purchasing an additional 2,996 shares during the period. Finally, Xponance Inc. purchased a new stake in shares of Newmark Group in the first quarter valued at $122,000. Hedge funds and other institutional investors own 58.42% of the company's stock.

Newmark Group Stock Up 0.7%

Shares of NASDAQ NMRK opened at $19.34 on Wednesday. Newmark Group, Inc. has a 1 year low of $9.65 and a 1 year high of $19.78. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 46.05 and a beta of 2.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.39 and a current ratio of 0.39. The stock's 50-day simple moving average is $16.77 and its 200-day simple moving average is $13.35.

Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its 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 return on equity of 22.73% and a net margin of 2.51%.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 company earned $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. As a group, equities analysts anticipate that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Thursday, August 14th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a 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 Analysts Forecast Growth

A number of brokerages have recently commented on NMRK. Wall Street Zen raised Newmark Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Citizens Jmp began coverage on Newmark Group in a research report on Monday, July 21st. They issued a "strong-buy" rating and a $17.00 price objective for the company. 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. 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. Finally, Keefe, Bruyette & Woods lifted their price objective on Newmark Group from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat, Newmark Group has an average rating of "Buy" and a consensus target price 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.

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