Algert Global LLC increased its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 64.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,138 shares of the company's stock after purchasing an additional 93,160 shares during the quarter. Algert Global LLC owned approximately 0.14% of Newmark Group worth $3,698,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Fifth Third Bancorp acquired a new position in shares of Newmark Group during the second quarter worth $33,000. EntryPoint Capital LLC grew its stake in Newmark Group by 35.5% during the 1st quarter. EntryPoint Capital LLC now owns 4,422 shares of the company's stock worth $49,000 after buying an additional 1,159 shares during the last quarter. Assetmark Inc. acquired a new position in Newmark Group during the 3rd quarter valued at about $93,000. SG Americas Securities LLC purchased a new stake in Newmark Group in the third quarter valued at about $112,000. Finally, Blue Trust Inc. boosted its holdings in Newmark Group by 408.2% in the third quarter. Blue Trust Inc. now owns 9,401 shares of the company's stock worth $146,000 after acquiring an additional 7,551 shares in the last quarter. Institutional investors own 58.42% of the company's stock.
Analysts Set New Price Targets
NMRK has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upgraded shares of Newmark Group from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $13.50 to $16.50 in a report on Thursday, September 5th. Wolfe Research lowered shares of Newmark Group from an "outperform" rating to a "peer perform" rating in a research note on Monday. Finally, Piper Sandler lifted their price objective on shares of Newmark Group from $13.00 to $17.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 3rd.
Get Our Latest Stock Report on NMRK
Newmark Group Price Performance
Shares of NASDAQ:NMRK remained flat at $15.52 during trading on Tuesday. The stock had a trading volume of 409,131 shares, compared to its average volume of 1,160,380. 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, Inc. has a 1 year low of $7.73 and a 1 year high of $16.10. The firm has a market capitalization of $2.66 billion, a PE ratio of 51.73 and a beta of 2.01. The business's 50-day moving average price is $15.12 and its 200-day moving average price is $12.85.
Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share (EPS) 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 last year, the firm posted $0.27 EPS. Newmark Group's revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Newmark Group, Inc. will post 1.15 earnings per share for the current year.
Newmark Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be issued a $0.03 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.77%. Newmark Group's dividend payout ratio (DPR) is presently 40.00%.
About Newmark Group
(
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.
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