Prescott Group Capital Management L.L.C. Takes $486,000 Position in Newmark Group, Inc. $NMRK

Prescott Group Capital Management L.L.C. purchased a new position in shares of Newmark Group, Inc. (NASDAQ:NMRK) in the second quarter, HoldingsChannel reports. The institutional investor purchased 40,000 shares of the company’s stock, valued at approximately $486,000.

Several other large investors have also recently added to or reduced their stakes in NMRK. CSM Advisors LLC acquired a new position in shares of Newmark Group during the second quarter worth about $267,000. Bank of New York Mellon Corp lifted its position in Newmark Group by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,093,458 shares of the company’s stock worth $13,286,000 after acquiring an additional 20,477 shares in the last quarter. Access Investment Management LLC acquired a new position in Newmark Group during the 2nd quarter worth approximately $700,000. Mountain Hill Investment Partners Corp. purchased a new position in Newmark Group in the 2nd quarter worth approximately $1,025,000. Finally, Versor Investments LP grew its position in Newmark Group by 94.9% in the second quarter. Versor Investments LP now owns 33,326 shares of the company’s stock valued at $405,000 after acquiring an additional 16,226 shares in the last quarter. 58.42% of the stock is currently owned by institutional investors and hedge funds.

Newmark Group Trading Up 1.9%

NASDAQ NMRK opened at $17.40 on Friday. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 30.53 and a beta of 2.13. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.39 and a quick ratio of 0.39. Newmark Group, Inc. has a 12 month low of $9.65 and a 12 month high of $19.83. The company’s fifty day moving average price is $18.39 and its two-hundred day moving average price is $14.89.

Newmark Group (NASDAQ:NMRK) last issued its earnings results on Thursday, October 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Newmark Group had a net margin of 3.26% and a return on equity of 24.04%. The business had revenue of $863.46 million for the quarter, compared to analyst estimates of $767.12 million. During the same quarter in the prior year, the business posted $0.33 EPS. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. Newmark Group has set its FY 2025 guidance at 1.530-1.630 EPS. As a group, research analysts predict that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Monday, November 17th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, November 17th. Newmark Group’s dividend payout ratio (DPR) is currently 21.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NMRK shares. JMP Securities boosted their target price on shares of Newmark Group from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of Newmark Group from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Newmark Group in a research report on Wednesday, October 8th. Citizens Jmp initiated coverage on Newmark Group in a research note on Monday, July 21st. They set a “strong-buy” rating and a $17.00 target price for the company. Finally, Zacks Research cut Newmark Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Newmark Group presently has a consensus rating of “Moderate Buy” and an average price target of $17.83.

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.