VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Newmark Group, Inc. $NMRK

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Newmark Group, Inc. (NASDAQ:NMRK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,800 shares of the company’s stock, valued at approximately $131,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. CWM LLC boosted its position in Newmark Group by 53.3% during the 2nd quarter. CWM LLC now owns 11,793 shares of the company’s stock worth $143,000 after acquiring an additional 4,100 shares during the period. Robertson Stephens Wealth Management LLC boosted its position in Newmark Group by 0.8% during the 2nd quarter. Robertson Stephens Wealth Management LLC now owns 326,724 shares of the company’s stock worth $3,970,000 after acquiring an additional 2,516 shares during the period. Callan Family Office LLC acquired a new position in Newmark Group during the 2nd quarter worth $226,000. Oliver Luxxe Assets LLC boosted its position in Newmark Group by 2.3% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 105,297 shares of the company’s stock worth $1,279,000 after acquiring an additional 2,389 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Newmark Group by 14.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 38,443 shares of the company’s stock worth $481,000 after acquiring an additional 4,859 shares during the period. Institutional investors and hedge funds own 58.42% of the company’s stock.

Wall Street Analyst Weigh In

NMRK has been the subject of several research analyst reports. Citizens Jmp initiated coverage on Newmark Group in a report on Monday, July 21st. They issued a “strong-buy” rating and a $17.00 price objective for the company. Zacks Research downgraded shares of Newmark Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Wall Street Zen raised 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 report on Saturday. Finally, JMP Securities upped their price target on shares of Newmark Group from $17.00 to $19.00 and gave the company a “market outperform” rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.83.

Newmark Group Stock Up 0.7%

Shares of Newmark Group stock opened at $19.48 on Monday. The stock’s fifty day moving average is $18.36 and its 200-day moving average is $14.37. The firm has a market capitalization of $3.44 billion, a PE ratio of 46.38 and a beta of 2.09. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.58. Newmark Group, Inc. has a 12-month low of $9.65 and a 12-month high of $19.83.

Newmark Group (NASDAQ:NMRK) last announced its earnings results on Wednesday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $759.10 million for the quarter, compared to analyst estimates of $695.24 million. Newmark Group had a return on equity of 22.73% and a net margin of 2.51%.Newmark Group’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 earnings per share. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. Equities analysts anticipate that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Thursday, August 14th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.6%. Newmark Group’s payout ratio is 28.57%.

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.