Point72 Asset Management L.P. Lowers Stake in Newmark Group, Inc. (NASDAQ:NMRK)

Point72 Asset Management L.P. reduced its position in Newmark Group, Inc. (NASDAQ:NMRK) by 52.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,391 shares of the company’s stock after selling 16,709 shares during the quarter. Point72 Asset Management L.P.’s holdings in Newmark Group were worth $157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in Newmark Group by 251.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock worth $7,246,000 after buying an additional 506,510 shares during the period. Paulson & CO. Inc. boosted its stake in shares of Newmark Group by 133.5% in the fourth quarter. Paulson & CO. Inc. now owns 3,000,000 shares of the company’s stock worth $32,880,000 after acquiring an additional 1,715,375 shares during the period. Systematic Financial Management LP grew its position in shares of Newmark Group by 11.9% during the second quarter. Systematic Financial Management LP now owns 928,935 shares of the company’s stock worth $9,503,000 after purchasing an additional 98,532 shares in the last quarter. Algert Global LLC raised its stake in Newmark Group by 89.5% during the 2nd quarter. Algert Global LLC now owns 144,978 shares of the company’s stock valued at $1,483,000 after purchasing an additional 68,468 shares during the period. Finally, Miller Howard Investments Inc. NY raised its stake in Newmark Group by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 35,091 shares of the company’s stock valued at $359,000 after purchasing an additional 823 shares during the period. 58.42% of the stock is owned by hedge funds and other institutional investors.

Newmark Group Stock Performance

NASDAQ:NMRK opened at $14.94 on Friday. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 67.91 and a beta of 2.01. Newmark Group, Inc. has a 1 year low of $5.09 and a 1 year high of $16.10. The stock’s 50 day simple moving average is $13.85 and its two-hundred day simple moving average is $11.66. 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 (NASDAQ:NMRK) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The company had revenue of $633.40 million for the quarter, compared to analysts’ expectations of $630.27 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. Newmark Group’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities analysts anticipate that Newmark Group, Inc. will post 1.15 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Friday, August 16th. Newmark Group’s payout ratio is 54.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NMRK shares. Wolfe Research raised shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a report on Friday, August 16th. Piper Sandler raised their target price on shares of Newmark Group from $13.00 to $17.00 and gave the company 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 price target for the company from $13.50 to $16.50 in a report on Thursday, September 5th.

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.