Newmark Group, Inc. (NASDAQ:NMRK) Stock Position Increased by Denali Advisors LLC

Denali Advisors LLC grew its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 39.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 653,829 shares of the company’s stock after acquiring an additional 184,100 shares during the quarter. Newmark Group comprises about 1.8% of Denali Advisors LLC’s investment portfolio, making the stock its 8th biggest holding. Denali Advisors LLC owned 0.38% of Newmark Group worth $6,689,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in shares of Newmark Group by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company’s stock worth $68,399,000 after buying an additional 480,047 shares during the last quarter. Black Diamond Financial LLC purchased a new position in shares of Newmark Group in the second quarter worth approximately $102,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of Newmark Group by 19.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 14,526 shares of the company’s stock worth $149,000 after buying an additional 2,324 shares during the last quarter. AdvisorShares Investments LLC purchased a new position in shares of Newmark Group in the second quarter worth approximately $462,000. Finally, Quest Partners LLC boosted its holdings in shares of Newmark Group by 40.8% in the second quarter. Quest Partners LLC now owns 49,706 shares of the company’s stock worth $508,000 after buying an additional 14,415 shares during the last quarter. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NMRK shares. Keefe, Bruyette & Woods raised shares of Newmark Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $13.50 to $16.50 in a report on Thursday, September 5th. Wolfe Research raised shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a report on Friday, August 16th. Finally, Piper Sandler lifted their price target on shares of Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd.

Newmark Group Price Performance

Shares of NASDAQ:NMRK opened at $14.95 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.49 and a quick ratio of 0.49. Newmark Group, Inc. has a 1-year low of $5.09 and a 1-year high of $15.10. The company has a market capitalization of $2.58 billion, a P/E ratio of 67.95 and a beta of 2.01. The firm’s 50 day simple moving average is $12.80 and its two-hundred day simple moving average is $11.20.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $633.40 million for the quarter, compared to analysts’ expectations of $630.27 million. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. Research analysts expect that Newmark Group, Inc. will post 1.15 EPS for the current fiscal year.

Newmark Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, August 16th. Newmark Group’s payout ratio is currently 54.55%.

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.