Point Nemo Capital LLC Makes New Investment in Newmark Group, Inc. $NMRK

Point Nemo Capital LLC bought a new position in shares of Newmark Group, Inc. (NASDAQ:NMRK) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 92,423 shares of the company’s stock, valued at approximately $1,133,000.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Newmark Group by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,343,384 shares of the company’s stock valued at $80,095,000 after purchasing an additional 227,649 shares during the period. Systematic Financial Management LP raised its holdings in Newmark Group by 7.7% during the 1st quarter. Systematic Financial Management LP now owns 1,692,518 shares of the company’s stock worth $25,371,000 after buying an additional 121,011 shares during the period. Bank of New York Mellon Corp raised its holdings in Newmark Group by 18.9% during the 1st quarter. Bank of New York Mellon Corp now owns 1,173,058 shares of the company’s stock worth $17,584,000 after buying an additional 186,236 shares during the period. Sei Investments Co. raised its holdings in Newmark Group by 9.6% during the 1st quarter. Sei Investments Co. now owns 814,101 shares of the company’s stock worth $12,203,000 after buying an additional 71,516 shares during the period. Finally, Bank of America Corp DE lifted its stake in Newmark Group by 30.6% during the first quarter. Bank of America Corp DE now owns 543,309 shares of the company’s stock valued at $8,144,000 after buying an additional 127,365 shares in the last quarter. 58.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on NMRK shares. Wall Street Zen cut shares of Newmark Group from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Barclays lifted their target price on shares of Newmark Group from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. Citigroup restated a “market outperform” rating on shares of Newmark Group in a report on Thursday, October 22nd. Weiss Ratings upgraded shares of Newmark Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 13th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Newmark Group from $17.50 to $16.00 and set an “outperform” rating for the company in a research report on Friday, October 9th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.60.

Newmark Group Stock Down 0.3%

Newmark Group stock opened at $11.91 on Friday. The firm has a market cap of $2.16 billion, a PE ratio of 14.35 and a beta of 1.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.55. The firm’s 50 day moving average price is $12.91 and its two-hundred day moving average price is $14.74. Newmark Group, Inc. has a twelve month low of $11.13 and a twelve month high of $18.25.

Newmark Group (NASDAQ:NMRK) last issued its earnings results on Thursday, October 29th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The company had revenue of $973.20 million during the quarter, compared to analyst estimates of $957.78 million. Newmark Group had a net margin of 4.07% and a return on equity of 27.61%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. On average, research analysts predict that Newmark Group, Inc. will post 1.86 EPS for the current fiscal year.

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 13th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.0%. Newmark Group’s dividend payout ratio is 28.92%.

Newmark Group Company Profile

Newmark Group, Inc is a global commercial real estate services company that provides advisory, transaction, and management services to occupiers, owners, investors, and developers. Its services cover office, industrial, retail, multifamily, hospitality, and other commercial property sectors.

The company assists clients with leasing, investment sales, acquisition and disposition advisory, debt and structured finance, valuation, consulting, and property and facilities management. Newmark also provides corporate real estate services, workplace strategy, capital markets advice, and technology-enabled data and research solutions.

Newmark serves clients through operations in major real estate markets across North America, Europe, Asia-Pacific, and other international regions.