Bank of New York Mellon Corp Sells 146,655 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Bank of New York Mellon Corp cut its holdings in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,765,200 shares of the company's stock after selling 146,655 shares during the quarter. Bank of New York Mellon Corp owned about 1.03% of Newmark Group worth $22,612,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC raised its position in Newmark Group by 5.7% in the third quarter. Geode Capital Management LLC now owns 3,554,867 shares of the company's stock worth $55,216,000 after acquiring an additional 190,974 shares in the last quarter. State Street Corp increased its stake in Newmark Group by 7.8% in the 3rd quarter. State Street Corp now owns 3,426,682 shares of the company's stock worth $53,216,000 after purchasing an additional 247,433 shares in the last quarter. Principal Financial Group Inc. increased its stake in Newmark Group by 44.9% in the 4th quarter. Principal Financial Group Inc. now owns 3,098,429 shares of the company's stock worth $39,691,000 after purchasing an additional 960,799 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Newmark Group by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,152,232 shares of the company's stock worth $33,424,000 after purchasing an additional 85,728 shares in the last quarter. Finally, Systematic Financial Management LP increased its stake in Newmark Group by 53.1% in the 3rd quarter. Systematic Financial Management LP now owns 1,421,985 shares of the company's stock worth $22,083,000 after purchasing an additional 493,050 shares in the last quarter. 58.42% of the stock is currently owned by institutional investors.

Remove Ads

Newmark Group Stock Performance

NMRK traded up $0.56 on Friday, hitting $12.40. The company had a trading volume of 1,212,429 shares, compared to its average volume of 976,172. The company's fifty day moving average price is $13.57 and its 200 day moving average price is $14.29. Newmark Group, Inc. has a 1-year low of $9.44 and a 1-year high of $16.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 35.43 and a beta of 1.96.

Newmark Group (NASDAQ:NMRK - Get Free Report) last issued its quarterly earnings results on Friday, February 14th. The company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.07. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The company had revenue of $888.30 million during the quarter, compared to analyst estimates of $790.76 million. During the same period in the previous year, the company earned $0.46 earnings per share. The company's quarterly revenue was up 18.9% compared to the same quarter last year. Equities analysts predict that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.03 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.97%. Newmark Group's payout ratio is 34.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NMRK shares. Wolfe Research cut Newmark Group from an "outperform" rating to a "peer perform" rating in a research note on Monday, November 25th. The Goldman Sachs Group started coverage on Newmark Group in a research note on Friday, December 6th. They issued a "buy" rating and a $19.00 price target for the company.

About Newmark Group

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.