Federated Hermes Inc. increased its stake in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 22.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 586,430 shares of the company's stock after purchasing an additional 106,766 shares during the quarter. Federated Hermes Inc. owned approximately 0.34% of Newmark Group worth $7,512,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers boosted its position in Newmark Group by 0.5% during the fourth quarter. Rhumbline Advisers now owns 237,015 shares of the company's stock valued at $3,036,000 after purchasing an additional 1,201 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Newmark Group by 19.1% during the 4th quarter. Meeder Asset Management Inc. now owns 15,620 shares of the company's stock valued at $200,000 after buying an additional 2,504 shares during the last quarter. Assetmark Inc. increased its holdings in Newmark Group by 43.5% in the fourth quarter. Assetmark Inc. now owns 8,585 shares of the company's stock worth $110,000 after buying an additional 2,602 shares during the last quarter. Sei Investments Co. lifted its stake in Newmark Group by 2.5% in the fourth quarter. Sei Investments Co. now owns 120,691 shares of the company's stock valued at $1,546,000 after acquiring an additional 2,976 shares during the last quarter. Finally, Oliver Luxxe Assets LLC grew its position in Newmark Group by 3.4% in the fourth quarter. Oliver Luxxe Assets LLC now owns 101,743 shares of the company's stock worth $1,303,000 after acquiring an additional 3,353 shares in the last quarter. Institutional investors and hedge funds own 58.42% of the company's stock.
Analyst Ratings Changes
Separately, The Goldman Sachs Group reduced their price objective on shares of Newmark Group from $19.50 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th.
Get Our Latest Analysis on NMRK
Newmark Group Stock Performance
Shares of NMRK stock traded down $0.18 during trading hours on Tuesday, reaching $10.53. 335,712 shares of the company's stock were exchanged, compared to its average volume of 1,126,710. Newmark Group, Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $16.10. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $1.90 billion, a P/E ratio of 30.09 and a beta of 1.69. The business has a fifty day moving average price of $12.81 and a 200-day moving average price of $13.81.
Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its quarterly earnings data on Friday, February 14th. The company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.07. The business had revenue of $888.30 million during the quarter, compared to analyst estimates of $790.76 million. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The firm's revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. Analysts predict that Newmark Group, Inc. will post 1.45 EPS for the current fiscal year.
Newmark Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.03 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.12 annualized dividend and a yield of 1.14%. Newmark Group's dividend payout ratio (DPR) is currently 34.29%.
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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