Newmark Group, Inc. $NMRK Stock: Penn Capital Management Company LLC Trims Position

Penn Capital Management Company LLC reduced its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 8.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,281,563 shares of the company’s stock after selling 114,372 shares during the period. Penn Capital Management Company LLC owned 0.71% of Newmark Group worth $15,743,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Nykredit A S acquired a new position in Newmark Group during the second quarter valued at approximately $41,000. Ancora Advisors LLC purchased a new position in Newmark Group in the 2nd quarter valued at about $45,000. Signaturefd LLC boosted its holdings in Newmark Group by 87.4% in the third quarter. Signaturefd LLC now owns 5,863 shares of the company’s stock valued at $72,000 after purchasing an additional 2,735 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Newmark Group by 9,157.7% during the first quarter. Fifth Third Bancorp now owns 8,980 shares of the company’s stock worth $135,000 after buying an additional 8,883 shares in the last quarter. Finally, Ethic Inc. acquired a new position in Newmark Group during the 3rd quarter worth $138,000. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

Newmark Group Price Performance

Shares of NASDAQ:NMRK opened at $12.07 on Tuesday. The company has a market cap of $2.19 billion, a PE ratio of 6.57 and a beta of 1.80. Newmark Group, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $18.25. The firm has a 50-day simple moving average of $12.83 and a 200 day simple moving average of $14.71. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.50.

Newmark Group (NASDAQ:NMRK) last issued its earnings results on Thursday, October 29th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. The firm had revenue of $973.20 million for the quarter, compared to analysts’ expectations of $957.78 million. Newmark Group had a net margin of 4.07% and a return on equity of 27.61%. Newmark Group’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company posted $0.42 earnings per share. On average, sell-side analysts anticipate that Newmark Group, Inc. will post 1.86 EPS for the current year.

Newmark Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 13th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, November 13th. This represents a $0.24 dividend on an annualized basis and a yield of 2.0%. Newmark Group’s payout ratio is currently 28.92%.

Wall Street Analyst Weigh In

A number of research firms recently commented on NMRK. Barclays lifted their price target on Newmark Group from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Zacks Research cut Newmark Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 29th. Citizens Jmp cut their price objective on Newmark Group from $22.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 22nd. Piper Sandler lowered Newmark Group from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $14.00 to $13.00 in a research report on Monday, October 19th. Finally, Keefe, Bruyette & Woods lowered their price target on Newmark Group from $17.50 to $16.00 and set an “outperform” rating for the company in a report on Friday, October 9th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Newmark Group presently has an average rating of “Hold” and an average target price of $17.60.

Newmark Group Company Profile

Newmark Group, Inc is a commercial real estate services and advisory firm serving property owners, occupiers, investors and developers. Its services include commercial leasing, investment sales, debt and structured finance, property and facilities management, valuation, consulting, project management and workplace strategy.

The company works across major property types, including office, industrial, retail, multifamily and hospitality. It serves clients throughout the United States and in international markets through its global offices and network.

Newmark became a publicly traded company in 2017 after being separated from BGC Partners.