Point72 Asset Management L.P. Invests $973,000 in Newmark Group, Inc. (NASDAQ:NMRK)

Point72 Asset Management L.P. bought a new position in Newmark Group, Inc. (NASDAQ:NMRK) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 75,988 shares of the company’s stock, valued at approximately $973,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC lifted 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 worth $53,000 after purchasing an additional 3,695 shares during the period. Assetmark Inc. lifted its position in shares of Newmark Group by 43.5% in the 4th quarter. Assetmark Inc. now owns 8,585 shares of the company’s stock worth $110,000 after purchasing an additional 2,602 shares during the period. Tower Research Capital LLC TRC lifted 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 worth $120,000 after purchasing an additional 3,070 shares during the period. Optimize Financial Inc purchased a new stake in shares of Newmark Group in the 4th quarter worth about $132,000. Finally, Highland Capital Management LLC purchased a new position in Newmark Group during the 4th quarter valued at about $135,000. 58.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NMRK shares. Keefe, Bruyette & Woods lowered their price target on shares of Newmark Group from $14.50 to $14.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Piper Sandler lowered their price target on shares of Newmark Group from $19.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Finally, The Goldman Sachs Group lowered their price target on shares of Newmark Group from $19.50 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th.

Newmark Group Trading Down 9.7%

Shares of NASDAQ NMRK opened at $10.28 on Thursday. Newmark Group, Inc. has a 1 year low of $9.64 and a 1 year high of $16.10. The stock has a market cap of $1.90 billion, a P/E ratio of 29.37 and a beta of 1.99. The firm has a 50-day moving average of $11.33 and a 200 day moving average of $13.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $665.49 million during the quarter, compared to analyst estimates of $609.28 million. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. Newmark Group’s revenue was up 21.8% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS. As a group, sell-side analysts expect that Newmark Group, Inc. will post 1.45 EPS for the current fiscal year.

Newmark Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, May 14th. This represents a $0.12 dividend on an annualized basis and a yield of 1.17%. Newmark Group’s dividend payout ratio is currently 30.77%.

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.