Newmark Group, Inc. (NASDAQ:NMRK) is HGI Capital Management LLC’s 3rd Largest Position

HGI Capital Management LLC lowered its position in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 13.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 431,122 shares of the company’s stock after selling 66,772 shares during the period. Newmark Group comprises about 5.8% of HGI Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. HGI Capital Management LLC owned approximately 0.25% of Newmark Group worth $6,695,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp purchased a new stake in shares of Newmark Group in the 2nd quarter worth about $33,000. Assetmark Inc. purchased a new stake in shares of Newmark Group in the 3rd quarter worth about $93,000. Black Diamond Financial LLC purchased a new stake in shares of Newmark Group in the 2nd quarter worth about $102,000. Evergreen Capital Management LLC purchased a new stake in shares of Newmark Group in the 2nd quarter worth about $107,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Newmark Group in the 3rd quarter worth about $112,000. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Analyst Upgrades and Downgrades

NMRK has been the subject of several research analyst reports. Piper Sandler raised their target price on shares of Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Wolfe Research lowered shares of Newmark Group from an “outperform” rating to a “peer perform” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods upgraded shares of Newmark Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $13.50 to $16.50 in a research note on Thursday, September 5th.

Newmark Group Price Performance

Shares of Newmark Group stock opened at $15.63 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42. The company has a 50-day moving average of $15.15 and a 200 day moving average of $12.93. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 52.10 and a beta of 2.01. Newmark Group, Inc. has a 1 year low of $7.80 and a 1 year high of $16.10.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $685.90 million during the quarter, compared to analyst estimates of $682.07 million. Newmark Group had a net margin of 2.00% and a return on equity of 18.95%. Newmark Group’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the business earned $0.27 EPS. As a group, sell-side analysts anticipate that Newmark Group, Inc. will post 1.15 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.77%. Newmark Group’s dividend payout ratio is currently 40.00%.

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.