Rhumbline Advisers Reduces Stock Position in Newmark Group, Inc. (NASDAQ:NMRK)

Rhumbline Advisers reduced its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 6.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,602 shares of the company’s stock after selling 14,413 shares during the quarter. Rhumbline Advisers owned about 0.12% of Newmark Group worth $2,709,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Newmark Group by 2.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,900 shares of the company’s stock valued at $959,000 after buying an additional 1,653 shares in the last quarter. Assetmark Inc. lifted its stake in Newmark Group by 43.5% in the 4th quarter. Assetmark Inc. now owns 8,585 shares of the company’s stock worth $110,000 after purchasing an additional 2,602 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Newmark Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 21,114,662 shares of the company’s stock worth $270,479,000 after buying an additional 83,094 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Newmark Group by 32.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 16,473 shares of the company’s stock worth $211,000 after buying an additional 4,019 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Newmark Group by 172.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 50,480 shares of the company’s stock worth $647,000 after buying an additional 31,974 shares during the last quarter. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on NMRK. Piper Sandler decreased their price target on shares of Newmark Group from $19.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. The Goldman Sachs Group decreased their price target on shares of Newmark Group from $19.50 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Keefe, Bruyette & Woods decreased their price target on shares of Newmark Group from $14.50 to $14.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Wall Street Zen lowered shares of Newmark Group from a “buy” rating to a “hold” rating in a report on Friday, June 6th. Finally, Wolfe Research raised shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $14.00 price target on the stock in a report on Friday, May 23rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Newmark Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.25.

Newmark Group Price Performance

Shares of Newmark Group stock opened at $11.38 on Monday. Newmark Group, Inc. has a 52-week low of $9.64 and a 52-week high of $16.10. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 32.52 and a beta of 1.94. The company has a fifty day moving average of $11.03 and a 200-day moving average of $12.59. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The company had revenue of $665.49 million during the quarter, compared to analysts’ expectations of $609.28 million. During the same quarter in the prior year, the company earned $0.15 EPS. The firm’s revenue was up 21.8% on a year-over-year basis. Equities research analysts expect that Newmark Group, Inc. will post 1.45 EPS for the current year.

Newmark Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th were paid a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.05%. Newmark Group’s dividend payout ratio (DPR) is 30.77%.

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.