Verition Fund Management LLC Acquires Shares of 20,711 Newmark Group, Inc. (NASDAQ:NMRK)

Verition Fund Management LLC acquired a new stake in Newmark Group, Inc. (NASDAQ:NMRK – Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,711 shares of the company’s stock, valued at approximately $167,000.

Several other hedge funds have also made changes to their positions in the business. Tower Research Capital LLC TRC boosted its stake in shares of Newmark Group by 117.9% during the third quarter. Tower Research Capital LLC TRC now owns 12,982 shares of the company’s stock worth $105,000 after buying an additional 7,025 shares during the period. UBS Group AG boosted its stake in shares of Newmark Group by 7.2% during the third quarter. UBS Group AG now owns 24,913 shares of the company’s stock worth $201,000 after buying an additional 1,681 shares during the period. Boston Partners boosted its stake in shares of Newmark Group by 9.0% during the third quarter. Boston Partners now owns 265,843 shares of the company’s stock worth $2,143,000 after buying an additional 21,921 shares during the period. Alterna Wealth Management Inc. acquired a new stake in shares of Newmark Group during the third quarter worth about $84,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Newmark Group during the third quarter worth about $181,000. Institutional investors and hedge funds own 55.36% of the company’s stock.

Newmark Group Trading Down 3.7 %

NASDAQ NMRK opened at $7.31 on Friday. The stock has a market capitalization of $1.26 billion, a P/E ratio of 15.89 and a beta of 1.71. Newmark Group, Inc. has a 52-week low of $7.24 and a 52-week high of $16.50. The firm has a 50-day moving average price of $8.40 and a 200 day moving average price of $8.65. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.37.

Newmark Group (NASDAQ:NMRK – Get Rating) last issued its earnings results on Thursday, February 16th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Newmark Group had a net margin of 3.19% and a return on equity of 22.68%. The company had revenue of $607.30 million during the quarter, compared to analysts’ expectations of $670.56 million. During the same period last year, the business posted $0.65 earnings per share. The company’s quarterly revenue was down 38.3% on a year-over-year basis. Equities research analysts expect that Newmark Group, Inc. will post 1.26 EPS for the current year.

Newmark Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Friday, March 3rd will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 1.64%. Newmark Group’s dividend payout ratio (DPR) is presently 26.09%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Newmark Group from $8.00 to $9.00 and gave the stock a “sell” rating in a research note on Friday, February 17th. Raymond James cut their price target on shares of Newmark Group from $13.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, January 20th.

Newmark Group Profile

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Newmark Group Inc engages in the provision of commercial real estate services. It offers its services to commercial real estate tenants, investors, owners, occupiers, developers, leasing and corporate advisory, investment sales and real estate finance, consulting, origination and servicing of commercial mortgage loans, valuation, project and development management and property and facility management.