Creative Planning Acquires 5,915 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Creative Planning raised its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 15.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,308 shares of the company’s stock after purchasing an additional 5,915 shares during the quarter. Creative Planning’s holdings in Newmark Group were worth $704,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Oliver Luxxe Assets LLC bought a new stake in Newmark Group during the 3rd quarter valued at $1,528,000. Diversified Trust Co grew its stake in shares of Newmark Group by 29.8% in the 3rd quarter. Diversified Trust Co now owns 31,573 shares of the company’s stock worth $490,000 after acquiring an additional 7,244 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of Newmark Group by 15.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 45,917 shares of the company’s stock worth $713,000 after acquiring an additional 6,000 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Newmark Group in the 3rd quarter worth $112,000. Finally, Systematic Financial Management LP grew its stake in shares of Newmark Group by 11.9% in the 2nd quarter. Systematic Financial Management LP now owns 928,935 shares of the company’s stock worth $9,503,000 after acquiring an additional 98,532 shares in the last quarter. Institutional investors own 58.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NMRK. Keefe, Bruyette & Woods upgraded shares of Newmark Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $13.50 to $16.50 in a research note on Thursday, September 5th. Piper Sandler upped their target price on shares of Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Finally, Wolfe Research upgraded shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 target price for the company in a research note on Friday, August 16th.

Newmark Group Price Performance

NMRK opened at $14.63 on Monday. The firm has a market cap of $2.51 billion, a P/E ratio of 56.27 and a beta of 2.01. The firm has a 50-day moving average of $14.77 and a 200 day moving average of $12.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.49. Newmark Group, Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $16.10.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $633.40 million during the quarter, compared to analyst estimates of $630.27 million. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. On average, research analysts expect that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Profile

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.