Twinbeech Capital LP Acquires Shares of 31,913 Newmark Group, Inc. (NASDAQ:NMRK)

Twinbeech Capital LP bought a new position in Newmark Group, Inc. (NASDAQ:NMRK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 31,913 shares of the company’s stock, valued at approximately $409,000.

Several other hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC boosted its position in Newmark Group by 813.9% during the 4th quarter. Sterling Capital Management LLC now owns 4,149 shares of the company’s stock valued at $53,000 after purchasing an additional 3,695 shares during the period. Assetmark Inc. raised its stake 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 buying an additional 2,602 shares in the last quarter. Tower Research Capital LLC TRC raised its stake 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 buying an additional 3,070 shares in the last quarter. Optimize Financial Inc acquired a new stake in shares of Newmark Group during the fourth quarter worth $132,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Newmark Group during the fourth quarter worth $133,000. Institutional investors and hedge funds own 58.42% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Newmark Group Trading Up 1.8%

Shares of NMRK opened at $10.46 on Friday. Newmark Group, Inc. has a 1 year low of $9.64 and a 1 year high of $16.10. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $11.29 and a 200-day simple moving average of $13.07. The stock has a market cap of $1.93 billion, a PE ratio of 29.89 and a beta of 1.99.

Newmark Group (NASDAQ:NMRK) last issued its earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The business had revenue of $665.49 million during the quarter, compared to analysts’ expectations of $609.28 million. During the same period in the prior year, the firm posted $0.15 EPS. Newmark Group’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, sell-side analysts predict that Newmark Group, Inc. will post 1.45 EPS for the current fiscal year.

Newmark Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Wednesday, May 14th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.12 dividend on an annualized basis and a yield of 1.15%. Newmark Group’s dividend payout ratio is 30.77%.

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.