Cetera Investment Advisers Buys 7,078 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Cetera Investment Advisers increased its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 13.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,713 shares of the company’s stock after buying an additional 7,078 shares during the quarter. Cetera Investment Advisers’ holdings in Newmark Group were worth $739,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of NMRK. Dimensional Fund Advisors LP raised its position in Newmark Group by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,374,705 shares of the company’s stock valued at $81,660,000 after purchasing an additional 88,618 shares during the last quarter. Millennium Management LLC grew its stake in shares of Newmark Group by 138.5% during the fourth quarter. Millennium Management LLC now owns 1,916,186 shares of the company’s stock worth $24,546,000 after purchasing an additional 1,112,610 shares during the period. Bridgeway Capital Management LLC grew its stake in shares of Newmark Group by 2.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,675,161 shares of the company’s stock worth $21,459,000 after purchasing an additional 38,233 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Newmark Group by 0.7% during the fourth quarter. Nuveen Asset Management LLC now owns 1,488,470 shares of the company’s stock worth $19,067,000 after purchasing an additional 10,872 shares during the period. Finally, Systematic Financial Management LP grew its stake in shares of Newmark Group by 3.8% during the fourth quarter. Systematic Financial Management LP now owns 1,476,123 shares of the company’s stock worth $18,909,000 after purchasing an additional 54,138 shares during the period. Institutional investors own 58.42% of the company’s stock.

Analyst Upgrades and Downgrades

NMRK has been the subject of a number of analyst reports. Wolfe Research raised 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. JMP Securities upped their price objective on Newmark Group from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 31st. Citizens Jmp began coverage on Newmark Group in a report on Monday, July 21st. They set a “strong-buy” rating and a $17.00 target price on the stock. Piper Sandler upped their target price on Newmark Group from $16.00 to $19.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Finally, Keefe, Bruyette & Woods upped their target price on Newmark Group from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $16.83.

Newmark Group Trading Down 0.3%

Shares of NASDAQ:NMRK opened at $17.37 on Friday. The company has a market capitalization of $3.21 billion, a P/E ratio of 41.36 and a beta of 2.04. Newmark Group, Inc. has a 1 year low of $9.65 and a 1 year high of $17.47. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.39 and a quick ratio of 0.47. The business’s 50 day simple moving average is $13.16 and its 200 day simple moving average is $12.52.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $759.10 million for the quarter, compared to the consensus estimate of $695.24 million. Newmark Group had a return on equity of 22.73% and a net margin of 2.51%. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 earnings per share. On average, research analysts anticipate that Newmark Group, Inc. will post 1.45 EPS for the current fiscal year.

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, August 14th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.7%. Newmark Group’s dividend payout ratio is currently 28.57%.

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.