Black Diamond Financial LLC Invests $102,000 in Newmark Group, Inc. (NASDAQ:NMRK)

Black Diamond Financial LLC purchased a new position in Newmark Group, Inc. (NASDAQ:NMRK) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,000 shares of the company’s stock, valued at approximately $102,000.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Newmark Group by 3.6% in the first quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock valued at $227,067,000 after buying an additional 702,233 shares during the period. Dimensional Fund Advisors LP boosted its position in Newmark Group by 10.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,220,485 shares of the company’s stock worth $68,178,000 after purchasing an additional 570,935 shares during the period. Paulson & CO. Inc. increased 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 purchasing an additional 1,715,375 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Newmark Group by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,969,167 shares of the company’s stock valued at $21,582,000 after purchasing an additional 81,209 shares during the period. Finally, Leeward Investments LLC MA lifted its stake in shares of Newmark Group by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 1,907,574 shares of the company’s stock valued at $19,514,000 after buying an additional 101,426 shares in the last quarter. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Newmark Group Stock Performance

Newmark Group stock opened at $14.90 on Monday. Newmark Group, Inc. has a 1-year low of $5.09 and a 1-year high of $15.10. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $2.57 billion, a PE ratio of 67.73 and a beta of 2.01. The firm’s 50 day simple moving average is $12.71 and its 200 day simple moving average is $11.17.

Newmark Group (NASDAQ:NMRK) last released 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. The firm had revenue of $633.40 million for the quarter, compared to analysts’ expectations of $630.27 million. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. As a group, analysts expect that Newmark Group, Inc. will post 1.15 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.81%. Newmark Group’s dividend payout ratio (DPR) is presently 54.55%.

Analysts Set New Price Targets

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

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.