Ritholtz Wealth Management Sells 40,489 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Ritholtz Wealth Management trimmed its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 64.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,341 shares of the company’s stock after selling 40,489 shares during the quarter. Ritholtz Wealth Management’s holdings in Newmark Group were worth $272,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NMRK. Asset Management One Co. Ltd. boosted its stake in Newmark Group by 32.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 16,473 shares of the company’s stock worth $211,000 after acquiring an additional 4,019 shares in the last quarter. Rhumbline Advisers raised its holdings in Newmark Group by 0.5% during the fourth quarter. Rhumbline Advisers now owns 237,015 shares of the company’s stock worth $3,036,000 after buying an additional 1,201 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Newmark Group by 44.9% during the fourth quarter. Principal Financial Group Inc. now owns 3,098,429 shares of the company’s stock worth $39,691,000 after buying an additional 960,799 shares during the last quarter. Alberta Investment Management Corp raised its holdings in Newmark Group by 15.8% during the fourth quarter. Alberta Investment Management Corp now owns 295,870 shares of the company’s stock worth $3,790,000 after buying an additional 40,427 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its stake in Newmark Group by 8.9% in the 4th quarter. Handelsbanken Fonder AB now owns 50,017 shares of the company’s stock valued at $641,000 after buying an additional 4,100 shares during the last quarter. 58.42% of the stock is owned by institutional investors.

Newmark Group Trading Down 0.9%

NASDAQ:NMRK opened at $11.16 on Friday. The company’s 50 day moving average price is $11.08 and its 200-day moving average price is $12.50. Newmark Group, Inc. has a 52 week low of $9.64 and a 52 week high of $16.10. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.50. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 28.62 and a beta of 1.94.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $665.49 million for the quarter, compared to the consensus estimate of $609.28 million. Newmark Group had a net margin of 2.39% and a return on equity of 21.85%. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.15 earnings per share. On average, equities research analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Wednesday, May 14th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.12 dividend on an annualized basis and a yield of 1.08%. Newmark Group’s dividend payout ratio (DPR) is 30.77%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Newmark Group from a “hold” rating to a “buy” rating in a report on Saturday. Keefe, Bruyette & Woods cut their price objective on shares of Newmark Group from $14.50 to $14.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Wolfe Research upgraded shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $14.00 price objective for the company in a research report on Friday, May 23rd. Piper Sandler lowered their target price on shares of Newmark Group from $19.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Finally, 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 research note on Wednesday, March 19th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Newmark Group has a consensus rating of “Buy” and an average price target of $15.25.

Newmark Group Company 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.