Oliver Luxxe Assets LLC Has $1.28 Million Position in Newmark Group, Inc. $NMRK

Oliver Luxxe Assets LLC raised its position in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 2.3% in the 2nd quarter, Holdings Channel reports. The firm owned 105,297 shares of the company’s stock after acquiring an additional 2,389 shares during the period. Oliver Luxxe Assets LLC’s holdings in Newmark Group were worth $1,279,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Financial Management Professionals Inc. bought a new position in shares of Newmark Group in the 1st quarter valued at $26,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Newmark Group in the first quarter valued at about $47,000. KBC Group NV bought a new position in Newmark Group in the first quarter valued at about $78,000. CWM LLC raised its stake in Newmark Group by 63.8% during the first quarter. CWM LLC now owns 7,693 shares of the company’s stock worth $94,000 after acquiring an additional 2,996 shares in the last quarter. Finally, Xponance Inc. acquired a new position in Newmark Group during the first quarter worth about $122,000. 58.42% of the stock is currently owned by institutional investors.

Newmark Group Stock Performance

Shares of NMRK stock opened at $19.21 on Tuesday. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 45.74 and a beta of 2.08. Newmark Group, Inc. has a 52 week low of $9.65 and a 52 week high of $19.78. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $16.63 and a 200-day moving average of $13.30.

Newmark Group (NASDAQ:NMRK) last released its earnings results on Wednesday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $759.10 million for the quarter, compared to the consensus estimate of $695.24 million. Newmark Group had a net margin of 2.51% and a return on equity of 22.73%. Newmark Group’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. On average, equities analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Thursday, August 14th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 14th. Newmark Group’s dividend payout ratio is 28.57%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Citizens Jmp assumed coverage on shares of Newmark Group in a research report on Monday, July 21st. They set a “strong-buy” rating and a $17.00 price objective for the company. Wall Street Zen upgraded Newmark Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. JMP Securities boosted their price objective on Newmark Group from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 31st. Keefe, Bruyette & Woods upped their target price on Newmark Group from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Finally, Piper Sandler lifted their price target on Newmark Group from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus 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.