Summit Global Investments Reduces Holdings in Newmark Group, Inc. $NMRK

Summit Global Investments cut its stake in Newmark Group, Inc. (NASDAQ:NMRK) by 60.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,524 shares of the company’s stock after selling 52,699 shares during the period. Summit Global Investments’ holdings in Newmark Group were worth $644,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NMRK. Farther Finance Advisors LLC increased its position in shares of Newmark Group by 338.0% during the third quarter. Farther Finance Advisors LLC now owns 1,879 shares of the company’s stock worth $35,000 after purchasing an additional 1,450 shares in the last quarter. Global Retirement Partners LLC increased its position in Newmark Group by 135.9% during the third quarter. Global Retirement Partners LLC now owns 2,326 shares of the company’s stock worth $43,000 after buying an additional 1,340 shares during the period. State of Alaska Department of Revenue acquired a new position in Newmark Group during the third quarter worth approximately $158,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Newmark Group in the second quarter valued at approximately $131,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Newmark Group in the second quarter valued at approximately $138,000. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Newmark Group Price Performance

Shares of NMRK opened at $17.83 on Friday. Newmark Group, Inc. has a twelve month low of $9.65 and a twelve month high of $19.83. The stock’s 50 day moving average is $17.38 and its two-hundred day moving average is $17.28. The firm has a market capitalization of $3.22 billion, a PE ratio of 31.28 and a beta of 1.93. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.46.

Newmark Group (NASDAQ:NMRK) last issued its earnings results on Thursday, October 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. Newmark Group had a return on equity of 23.69% and a net margin of 3.26%.The business had revenue of $863.46 million during the quarter, compared to the consensus estimate of $767.12 million. During the same period in the prior year, the business posted $0.33 EPS. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. Research analysts anticipate that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Newmark Group in a report on Thursday, December 18th. Wall Street Zen upgraded shares of Newmark Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Keefe, Bruyette & Woods upped their target price on shares of Newmark Group from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Newmark Group in a report on Thursday, January 22nd. Finally, Barclays initiated coverage on Newmark Group in a research report on Tuesday, December 2nd. They set an “overweight” rating and a $21.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.43.

Newmark Group Profile

Newmark Group, Inc is a publicly traded commercial real estate advisory firm headquartered in New York City. The company provides a comprehensive suite of services to real estate investors, occupiers and developers, including leasing advisory, property management, capital markets placement, loan servicing, valuation and advisory services. Newmark’s platform integrates local market expertise with national reach to support clients across diverse property types such as office, industrial, retail, multifamily and specialty assets.

Operating across two principal segments—global corporate services and capital markets & property-level services—Newmark delivers tailored solutions encompassing tenant representation, landlord leasing, investment sales, debt and equity financing, and appraisal services.