HGI Capital Management LLC Has $6.70 Million Stake in Newmark Group, Inc. (NASDAQ:NMRK)

HGI Capital Management LLC cut its stake in Newmark Group, Inc. (NASDAQ:NMRK) by 13.4% in the third quarter, according to its most recent Form 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 quarter. Newmark Group accounts for about 5.8% of HGI Capital Management LLC’s investment portfolio, making the stock its 3rd largest holding. HGI Capital Management LLC’s holdings in Newmark Group were worth $6,695,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in NMRK. Fifth Third Bancorp bought a new stake in shares of Newmark Group in the second quarter worth approximately $33,000. Assetmark Inc. bought a new stake in shares of Newmark Group in the third quarter worth approximately $93,000. Black Diamond Financial LLC bought a new stake in shares of Newmark Group in the second quarter worth approximately $102,000. Evergreen Capital Management LLC bought a new stake in shares of Newmark Group in the second quarter worth approximately $107,000. Finally, SG Americas Securities LLC bought a new stake in shares of Newmark Group in the third quarter worth approximately $112,000. 58.42% of the stock is currently owned by institutional investors.

Newmark Group Stock Performance

NMRK opened at $15.63 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 52.10 and a beta of 2.01. The company’s 50 day moving average is $15.15 and its 200 day moving average is $12.93. Newmark Group, Inc. has a 12-month low of $7.80 and a 12-month high of $16.10.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. Newmark Group had a net margin of 2.00% and a return on equity of 18.95%. The business had revenue of $685.90 million for the quarter, compared to the consensus estimate of $682.07 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities research analysts predict that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.