DRW Securities LLC Buys New Stake in Newmark Group, Inc. (NASDAQ:NMRK)

DRW Securities LLC acquired a new position in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 40,000 shares of the company's stock, valued at approximately $621,000.

Several other hedge funds have also modified their holdings of NMRK. Fifth Third Bancorp bought a new position in shares of Newmark Group during the 2nd quarter valued at approximately $33,000. Assetmark Inc. bought a new position in Newmark Group during the third quarter valued at $93,000. Black Diamond Financial LLC purchased a new stake in shares of Newmark Group in the second quarter valued at $102,000. Evergreen Capital Management LLC bought a new stake in shares of Newmark Group in the 2nd quarter worth about $107,000. Finally, SG Americas Securities LLC purchased a new position in shares of Newmark Group during the 3rd quarter worth about $112,000. 58.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NMRK has been the subject of several analyst reports. Keefe, Bruyette & Woods raised shares of Newmark Group from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $13.50 to $16.50 in a research note on Thursday, September 5th. Wolfe Research cut Newmark Group from an "outperform" rating to a "peer perform" rating in a report on Monday. Finally, Piper Sandler increased their target price on Newmark Group from $13.00 to $17.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 3rd.

Newmark Group Stock Performance

Shares of Newmark Group stock remained flat at $15.63 on Wednesday. 773,481 shares of the stock traded hands, compared to its average volume of 1,160,419. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market cap of $2.67 billion, a P/E ratio of 52.10 and a beta of 2.01. The company has a 50 day moving average of $15.13 and a 200 day moving average of $12.89. Newmark Group, Inc. has a 1 year low of $7.80 and a 1 year high of $16.10.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. Newmark Group had a net margin of 2.00% and a return on equity of 18.95%. The company had revenue of $685.90 million during the quarter, compared to analyst estimates of $682.07 million. During the same period in the prior year, the firm earned $0.27 earnings per share. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, research analysts anticipate that Newmark Group, Inc. will post 1.15 EPS for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Thursday, November 21st. Newmark Group's dividend payout ratio (DPR) is 40.00%.

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.