Vanguard Group Inc. Reduces Stock Position in Newmark Group, Inc. $NMRK

Vanguard Group Inc. cut its stake in Newmark Group, Inc. (NASDAQ:NMRK) by 5.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,051,128 shares of the company’s stock after selling 1,063,534 shares during the period. Vanguard Group Inc. owned approximately 11.11% of Newmark Group worth $244,022,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in NMRK. Financial Management Professionals Inc. acquired a new position in shares of Newmark Group in the 1st quarter valued at $26,000. Sterling Capital Management LLC increased its stake in Newmark Group by 813.9% during the 4th quarter. Sterling Capital Management LLC now owns 4,149 shares of the company’s stock worth $53,000 after buying an additional 3,695 shares during the period. KBC Group NV purchased a new stake in Newmark Group during the 1st quarter worth $78,000. CWM LLC increased its stake in Newmark Group by 63.8% during the 1st quarter. CWM LLC now owns 7,693 shares of the company’s stock worth $94,000 after buying an additional 2,996 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Newmark Group by 48.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company’s stock worth $120,000 after buying an additional 3,070 shares during the period. 58.42% of the stock is owned by hedge funds and other institutional investors.

Newmark Group Stock Down 0.2%

Newmark Group stock opened at $17.25 on Tuesday. The firm has a market cap of $3.05 billion, a PE ratio of 41.07 and a beta of 2.04. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.39 and a current ratio of 0.39. The firm’s 50 day moving average price is $13.40 and its two-hundred day moving average price is $12.54. Newmark Group, Inc. has a twelve month low of $9.65 and a twelve month high of $17.47.

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

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Thursday, August 14th will be issued a $0.03 dividend. 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 28.57%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NMRK shares. Wall Street Zen raised shares of Newmark Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Piper Sandler lifted their price target on shares of Newmark Group from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Citizens Jmp started coverage on shares of Newmark Group in a research note on Monday, July 21st. They set a “strong-buy” rating and a $17.00 price target on the stock. JMP Securities boosted their target price on shares of Newmark Group from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Newmark Group from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $16.83.

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.