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

Black Diamond Financial LLC bought a new stake in Newmark Group, Inc. (NASDAQ:NMRK) during the second quarter, HoldingsChannel reports. The fund bought 10,000 shares of the company’s stock, valued at approximately $102,000.

A number of other institutional investors have also added to or reduced their stakes in NMRK. Miller Howard Investments Inc. NY boosted its holdings 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 acquiring an additional 823 shares during the period. Diversified Trust Co boosted its stake in shares of Newmark Group by 4.6% during the second quarter. Diversified Trust Co now owns 24,329 shares of the company’s stock valued at $249,000 after purchasing an additional 1,080 shares during the period. EntryPoint Capital LLC grew its holdings in shares of Newmark Group by 35.5% in the first quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock worth $49,000 after purchasing an additional 1,159 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Newmark Group by 7.3% in the first quarter. ProShare Advisors LLC now owns 24,387 shares of the company’s stock worth $270,000 after buying an additional 1,650 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in Newmark Group by 15.8% during the 4th quarter. QRG Capital Management Inc. now owns 16,367 shares of the company’s stock valued at $179,000 after buying an additional 2,228 shares during the last quarter. Institutional investors own 58.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a report 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 on the stock in a report on Friday, August 16th. Finally, Keefe, Bruyette & Woods upgraded Newmark Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $13.50 to $16.50 in a research report on Thursday, September 5th.

Newmark Group Trading Up 0.9 %

NASDAQ:NMRK opened at $14.90 on Monday. Newmark Group, Inc. has a 12 month low of $5.09 and a 12 month 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 company has a 50-day moving average price of $12.71 and a 200-day moving average price of $11.17. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 67.73 and a beta of 2.01.

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

Newmark Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.81%. The ex-dividend date was Friday, August 16th. Newmark Group’s dividend payout ratio is currently 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.