Captrust Financial Advisors bought a new stake in shares of 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 bought 53,738 shares of the company's stock, valued at approximately $835,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Newmark Group by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company's stock worth $68,399,000 after buying an additional 480,047 shares during the period. Charles Schwab Investment Management Inc. increased its position in Newmark Group by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,152,232 shares of the company's stock valued at $33,424,000 after buying an additional 85,728 shares in the last quarter. Principal Financial Group Inc. raised its stake in Newmark Group by 1,017.4% during the third quarter. Principal Financial Group Inc. now owns 2,137,630 shares of the company's stock valued at $33,197,000 after buying an additional 1,946,322 shares during the last quarter. Leeward Investments LLC MA raised its position in shares of Newmark Group by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 1,907,574 shares of the company's stock worth $19,514,000 after purchasing an additional 101,426 shares during the last quarter. Finally, Vision Capital Corp bought a new position in shares of Newmark Group in the third quarter worth approximately $17,203,000. Hedge funds and other institutional investors own 58.42% of the company's stock.
Newmark Group Price Performance
NASDAQ:NMRK traded down $0.32 during trading hours on Tuesday, hitting $14.88. 753,690 shares of the stock traded hands, compared to its average volume of 1,148,007. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 49.60 and a beta of 1.96. Newmark Group, Inc. has a 1 year low of $8.54 and a 1 year high of $16.10. The stock has a 50 day moving average price of $15.12 and a 200 day moving average price of $13.23. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52.
Newmark Group (NASDAQ:NMRK - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $682.07 million. During the same quarter in the previous year, the company earned $0.27 EPS. Newmark Group's revenue for the quarter was up 11.3% on a year-over-year basis. Sell-side analysts forecast that Newmark Group, Inc. will post 1.15 EPS for the current fiscal year.
Newmark Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 21st were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Thursday, November 21st. Newmark Group's dividend payout ratio is currently 40.00%.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the company. Piper Sandler lifted their target price on Newmark Group from $13.00 to $17.00 and gave the stock an "overweight" rating in a report on Tuesday, September 3rd. Wolfe Research cut Newmark Group from an "outperform" rating to a "peer perform" rating in a report on Monday, November 25th. Keefe, Bruyette & Woods raised Newmark Group from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $13.50 to $16.50 in a report on Thursday, September 5th. Finally, The Goldman Sachs Group started coverage on Newmark Group in a report on Friday. They issued a "buy" rating and a $19.00 target price on the stock.
Check Out Our Latest Analysis on Newmark Group
Newmark Group Company Profile
(
Free Report)
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.
Featured Stories
Before you consider Newmark Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Newmark Group wasn't on the list.
While Newmark Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
