Point72 Asia Singapore Pte. Ltd. Has $35,000 Position in Newmark Group, Inc. (NASDAQ:NMRK)

Point72 Asia Singapore Pte. Ltd. lessened its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 75.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,373 shares of the company’s stock after selling 10,599 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Newmark Group were worth $35,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC raised its holdings in shares of Newmark Group by 153.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 599,351 shares of the company’s stock valued at $6,131,000 after purchasing an additional 363,032 shares in the last quarter. Evergreen Capital Management LLC bought a new position in Newmark Group during the second quarter valued at about $107,000. Hsbc Holdings PLC lifted its position in shares of Newmark Group by 6.1% in the second quarter. Hsbc Holdings PLC now owns 24,870 shares of the company’s stock worth $253,000 after buying an additional 1,420 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Newmark Group by 78.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,818 shares of the company’s stock worth $203,000 after acquiring an additional 8,729 shares in the last quarter. Finally, Denali Advisors LLC increased its holdings in shares of Newmark Group by 39.2% during the 2nd quarter. Denali Advisors LLC now owns 653,829 shares of the company’s stock valued at $6,689,000 after acquiring an additional 184,100 shares during the last quarter. 58.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NMRK shares. Wolfe Research upgraded Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 target price for the company in a report on Friday, August 16th. Piper Sandler boosted their price objective 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. Finally, Keefe, Bruyette & Woods upgraded shares of Newmark Group from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $13.50 to $16.50 in a report on Thursday, September 5th.

Newmark Group Stock Up 0.6 %

NMRK opened at $15.62 on Wednesday. The business has a 50 day moving average of $13.59 and a 200-day moving average of $11.53. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 70.95 and a beta of 2.01. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49. Newmark Group, Inc. has a 1-year low of $5.09 and a 1-year high of $16.10.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The firm had revenue of $633.40 million during the quarter, compared to the consensus estimate of $630.27 million. During the same period in the prior year, the firm earned $0.18 EPS. The business’s revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Newmark Group, Inc. will post 1.15 earnings per share for the current year.

Newmark Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were issued a $0.03 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.12 annualized dividend and a yield of 0.77%. Newmark Group’s dividend payout ratio (DPR) is 54.55%.

Newmark Group 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.