Federated Hermes Inc. Reduces Position in Newmark Group, Inc. (NASDAQ:NMRK)

Federated Hermes Inc. cut its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 64.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 253,963 shares of the company’s stock after selling 465,515 shares during the period. Federated Hermes Inc.’s holdings in Newmark Group were worth $2,783,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of Newmark Group during the third quarter valued at about $44,000. AXQ Capital LP acquired a new stake in shares of Newmark Group during the third quarter valued at about $76,000. New York State Teachers Retirement System acquired a new stake in shares of Newmark Group during the fourth quarter valued at about $135,000. Evergreen Capital Management LLC boosted its stake in shares of Newmark Group by 11.8% in the third quarter. Evergreen Capital Management LLC now owns 13,739 shares of the company’s stock valued at $88,000 after purchasing an additional 1,455 shares during the period. Finally, QRG Capital Management Inc. purchased a new position in shares of Newmark Group in the third quarter valued at approximately $91,000. 58.42% of the stock is currently owned by institutional investors and hedge funds.

Newmark Group Stock Up 1.0 %

Shares of Newmark Group stock opened at $9.76 on Friday. Newmark Group, Inc. has a 52-week low of $5.07 and a 52-week high of $11.51. The company has a 50 day moving average of $10.54 and a 200 day moving average of $9.35. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $1.69 billion, a P/E ratio of 39.04 and a beta of 1.97.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. Newmark Group had a net margin of 1.72% and a return on equity of 17.03%. The company had revenue of $747.70 million during the quarter, compared to the consensus estimate of $743.53 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. As a group, research analysts forecast that Newmark Group, Inc. will post 1.12 EPS for the current fiscal year.

Newmark Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $0.03 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.12 dividend on an annualized basis and a yield of 1.23%. Newmark Group’s dividend payout ratio is currently 48.00%.

Analyst Ratings Changes

Several research analysts have recently commented on NMRK shares. Keefe, Bruyette & Woods raised their price objective on shares of Newmark Group from $11.00 to $11.25 and gave the company a “market perform” rating in a research note on Monday, February 26th. Piper Sandler reissued an “overweight” rating and issued a $13.00 price objective on shares of Newmark Group in a research note on Tuesday, March 26th.

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.