Tranquility Partners LLC Sells 10,424 Shares of Newmark Group, Inc. $NMRK

Tranquility Partners LLC lessened its stake in Newmark Group, Inc. (NASDAQ:NMRK) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,568 shares of the company’s stock after selling 10,424 shares during the period. Tranquility Partners LLC owned approximately 0.07% of Newmark Group worth $1,562,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. OneDigital Investment Advisors LLC grew its position in Newmark Group by 10.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 11,878 shares of the company’s stock worth $145,000 after purchasing an additional 1,121 shares during the period. KBC Group NV bought a new stake in shares of Newmark Group during the 1st quarter valued at $78,000. Allspring Global Investments Holdings LLC grew its position in shares of Newmark Group by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 62,072 shares of the company’s stock valued at $752,000 after acquiring an additional 21,773 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Newmark Group during the 1st quarter valued at $916,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Newmark Group during the 1st quarter valued at $264,000. Institutional investors own 58.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NMRK shares. Piper Sandler boosted their price objective on shares of 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 boosted their price objective on shares of Newmark Group from $17.00 to $19.00 and gave the company a “market outperform” rating in a research report on Thursday, July 31st. Wall Street Zen raised shares of Newmark Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Newmark Group in a research report on Wednesday. Finally, Zacks Research downgraded shares of Newmark Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Newmark Group currently has a consensus rating of “Moderate Buy” and an average target price of $17.83.

Newmark Group Trading Down 1.2%

Shares of Newmark Group stock opened at $16.99 on Friday. The company has a market capitalization of $3.00 billion, a P/E ratio of 40.45 and a beta of 2.09. 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 company has a fifty day moving average of $17.95 and a 200 day moving average of $13.85. Newmark Group, Inc. has a fifty-two week low of $9.65 and a fifty-two week high of $19.78.

Newmark Group (NASDAQ:NMRK) last issued its earnings results on Wednesday, July 30th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The company had revenue of $759.10 million during 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 prior year, the firm posted $0.22 EPS. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. On average, sell-side analysts anticipate that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 14th were paid a $0.03 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.12 annualized dividend and a yield of 0.7%. Newmark Group’s payout ratio is presently 28.57%.

About Newmark Group

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.