Fmr LLC Cuts Stock Position in Newmark Group, Inc. (NASDAQ:NMRK)

FMR LLC decreased its position in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 5.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,945,474 shares of the company's stock after selling 219,837 shares during the quarter. FMR LLC owned 2.30% of Newmark Group worth $61,273,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NMRK. Price T Rowe Associates Inc. MD grew its stake in shares of Newmark Group by 4.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 111,296 shares of the company's stock worth $1,235,000 after purchasing an additional 4,779 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Newmark Group by 30.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 16,484 shares of the company's stock valued at $180,000 after acquiring an additional 3,843 shares during the period. Diversified Trust Co grew its stake in Newmark Group by 4.6% in the 2nd quarter. Diversified Trust Co now owns 24,329 shares of the company's stock valued at $249,000 after acquiring an additional 1,080 shares during the period. Assenagon Asset Management S.A. grew its stake in Newmark Group by 251.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company's stock valued at $7,246,000 after acquiring an additional 506,510 shares during the period. Finally, Leeward Investments LLC MA grew its stake in Newmark Group by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 1,907,574 shares of the company's stock valued at $19,514,000 after acquiring an additional 101,426 shares during the period. Institutional investors and hedge funds own 58.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NMRK. Keefe, Bruyette & Woods raised shares of Newmark Group from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $13.50 to $16.50 in a research note on Thursday, September 5th. The Goldman Sachs Group began coverage on shares of Newmark Group in a research note on Friday. They issued a "buy" rating and a $19.00 price target on the stock. Wolfe Research cut shares of Newmark Group from an "outperform" rating to a "peer perform" rating in a research note on Monday, November 25th. Finally, Piper Sandler lifted their target price 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.

Newmark Group Price Performance

NMRK traded up $0.35 on Friday, hitting $15.77. 1,250,749 shares of the company's stock were exchanged, compared to its average volume of 1,060,529. Newmark Group, Inc. has a fifty-two week low of $8.28 and a fifty-two week high of $16.10. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $15.14 and a 200-day moving average price of $13.13. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 52.57 and a beta of 1.96.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. The business had revenue of $685.90 million for the quarter, compared to analyst estimates of $682.07 million. During the same quarter in the previous year, the firm earned $0.27 EPS. The company's quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts anticipate 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 was paid on Thursday, December 5th. Investors of record on Thursday, November 21st were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.12 annualized dividend and a yield of 0.76%. Newmark Group's dividend payout ratio (DPR) is currently 40.00%.

Newmark Group 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.