Denali Advisors LLC Reduces Holdings in Newmark Group, Inc. (NASDAQ:NMRK)

Denali Advisors LLC cut its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 7.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 469,729 shares of the company’s stock after selling 36,800 shares during the quarter. Newmark Group comprises approximately 1.5% of Denali Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. Denali Advisors LLC’s holdings in Newmark Group were worth $5,209,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NMRK. Riverview Trust Co acquired a new stake in Newmark Group during the first quarter valued at $29,000. AXQ Capital LP purchased a new position in shares of Newmark Group in the 3rd quarter valued at about $76,000. Evergreen Capital Management LLC raised its holdings in Newmark Group by 11.8% in the 3rd quarter. Evergreen Capital Management LLC now owns 13,739 shares of the company’s stock worth $88,000 after purchasing an additional 1,455 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new position in Newmark Group during the fourth quarter worth approximately $119,000. Finally, New York State Teachers Retirement System acquired a new stake in Newmark Group in the fourth quarter valued at approximately $135,000. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reissued an “overweight” rating and issued a $13.00 price target on shares of Newmark Group in a research note on Tuesday, March 26th.

Newmark Group Trading Up 2.1 %

Shares of Newmark Group stock traded up $0.21 during trading hours on Wednesday, hitting $10.23. The company’s stock had a trading volume of 283,316 shares, compared to its average volume of 1,019,533. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 46.50 and a beta of 2.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.56 and a current ratio of 0.56. Newmark Group, Inc. has a twelve month low of $5.09 and a twelve month high of $11.51. The firm has a fifty day moving average of $10.14 and a 200-day moving average of $10.34.

Newmark Group (NASDAQ:NMRK) last announced its earnings results on Friday, May 3rd. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). The company had revenue of $546.50 million for the quarter, compared to analysts’ expectations of $526.07 million. Newmark Group had a return on equity of 17.03% and a net margin of 1.47%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS. Research analysts forecast that Newmark Group, Inc. will post 1.12 EPS for the current year.

Newmark Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, May 16th. Newmark Group’s dividend payout ratio (DPR) is 54.55%.

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.