SG Americas Securities LLC cut its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK – Get Rating) by 11.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 70,132 shares of the company’s stock after selling 8,864 shares during the quarter. SG Americas Securities LLC’s holdings in Newmark Group were worth $565,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Captrust Financial Advisors grew its stake in shares of Newmark Group by 44.0% during the 2nd quarter. Captrust Financial Advisors now owns 3,849 shares of the company’s stock worth $37,000 after purchasing an additional 1,176 shares during the period. Wipfli Financial Advisors LLC acquired a new stake in Newmark Group in the 3rd quarter valued at about $31,000. Great West Life Assurance Co. Can grew its stake in Newmark Group by 23.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 9,971 shares of the company’s stock valued at $168,000 after acquiring an additional 1,868 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Newmark Group in the 1st quarter valued at about $166,000. Finally, Versor Investments LP acquired a new stake in Newmark Group in the 2nd quarter valued at about $103,000. 55.36% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts recently commented on NMRK shares. Raymond James lowered their price objective on shares of Newmark Group from $13.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday. Piper Sandler decreased their price target on shares of Newmark Group to $10.00 in a research note on Thursday, October 13th. TheStreet cut shares of Newmark Group from a “b-” rating to a “c+” rating in a research note on Tuesday, October 11th. Finally, The Goldman Sachs Group cut shares of Newmark Group from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $9.00 to $8.00 in a research note on Monday, December 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Newmark Group has a consensus rating of “Hold” and an average price target of $11.25.
Newmark Group Price Performance
Newmark Group (NASDAQ:NMRK – Get Rating) last announced its quarterly earnings data on Friday, October 28th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.13). The company had revenue of $664.65 million for the quarter, compared to analysts’ expectations of $765.05 million. Newmark Group had a return on equity of 27.92% and a net margin of 7.34%. Equities analysts predict that Newmark Group, Inc. will post 1.48 earnings per share for the current year.
Newmark Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 30th. Stockholders of record on Friday, November 11th were issued a dividend of $0.03 per share. The ex-dividend date was Wednesday, November 9th. This represents a $0.12 annualized dividend and a dividend yield of 1.34%. Newmark Group’s payout ratio is currently 10.43%.
About Newmark Group
Newmark Group, Inc provides commercial real estate services in the United States and internationally. The company's investor/owner services and products include capital markets, such as investment, debt and structured finance, and loan sales; agency leasing, property management, and valuation and advisory; and commercial real estate due diligence consulting and advisory services, as well as government sponsored enterprise lending, loan servicing, mortgage broking, and equity-raising services.
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