Newmark Group, Inc. (NASDAQ:NMRK) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in Newmark Group, Inc. (NASDAQ:NMRK) by 39.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,072,981 shares of the company’s stock after selling 692,219 shares during the period. Bank of New York Mellon Corp owned approximately 0.59% of Newmark Group worth $13,058,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. World Investment Advisors acquired a new position in Newmark Group during the 1st quarter worth approximately $131,000. OneDigital Investment Advisors LLC boosted its stake in shares of Newmark Group by 10.4% in the first quarter. OneDigital Investment Advisors LLC now owns 11,878 shares of the company’s stock valued at $145,000 after purchasing an additional 1,121 shares during the period. Teacher Retirement System of Texas grew its holdings in Newmark Group by 16.2% during the 1st quarter. Teacher Retirement System of Texas now owns 20,794 shares of the company’s stock valued at $253,000 after purchasing an additional 2,898 shares in the last quarter. KBC Group NV acquired a new stake in Newmark Group during the 1st quarter valued at $78,000. Finally, CWC Advisors LLC. increased its stake in Newmark Group by 31.2% during the 1st quarter. CWC Advisors LLC. now owns 25,076 shares of the company’s stock worth $305,000 after buying an additional 5,957 shares during the period. 58.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NMRK has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased 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. Piper Sandler cut their price target on Newmark Group from $19.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Wolfe Research upgraded Newmark Group from a “peer perform” rating to an “outperform” rating and set a $14.00 price objective for the company in a research note on Friday, May 23rd. Finally, Wall Street Zen lowered Newmark Group from a “buy” rating to a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Newmark Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.25.

Newmark Group Stock Performance

Shares of NMRK stock opened at $12.31 on Monday. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 31.56 and a beta of 1.93. Newmark Group, Inc. has a one year low of $9.65 and a one year high of $16.10. The company’s 50-day simple moving average is $11.67 and its 200-day simple moving average is $12.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.47 and a current ratio of 0.47.

Newmark Group (NASDAQ:NMRK) last issued its earnings results on Wednesday, April 30th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $665.49 million during the quarter, compared to analyst estimates of $609.28 million. Newmark Group had a return on equity of 21.85% and a net margin of 2.39%. The business’s revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 EPS. Equities analysts anticipate that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Wednesday, May 14th were issued 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 yield of 0.97%. Newmark Group’s dividend payout ratio is currently 30.77%.

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.