Geode Capital Management LLC Has $55.22 Million Position in Newmark Group, Inc. (NASDAQ:NMRK)

Geode Capital Management LLC grew its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,554,867 shares of the company's stock after purchasing an additional 190,974 shares during the quarter. Geode Capital Management LLC owned approximately 2.07% of Newmark Group worth $55,216,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NMRK. Barclays PLC grew its stake in Newmark Group by 352.8% during the 3rd quarter. Barclays PLC now owns 227,099 shares of the company's stock worth $3,526,000 after buying an additional 176,947 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in shares of Newmark Group by 49.4% during the third quarter. Orion Portfolio Solutions LLC now owns 137,358 shares of the company's stock worth $2,133,000 after acquiring an additional 45,426 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Newmark Group during the third quarter worth about $390,000. Jane Street Group LLC increased its holdings in shares of Newmark Group by 8.4% in the 3rd quarter. Jane Street Group LLC now owns 140,001 shares of the company's stock worth $2,174,000 after acquiring an additional 10,796 shares during the period. Finally, State Street Corp lifted its position in Newmark Group by 7.8% in the 3rd quarter. State Street Corp now owns 3,426,682 shares of the company's stock valued at $53,216,000 after purchasing an additional 247,433 shares during the last quarter. 58.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wolfe Research lowered shares of Newmark Group from an "outperform" rating to a "peer perform" rating in a research note on Monday, November 25th. The Goldman Sachs Group initiated coverage on shares of Newmark Group in a research note on Friday, December 6th. They issued a "buy" rating and a $19.00 price target for the company. Piper Sandler raised their price objective on shares of Newmark Group from $13.00 to $17.00 and gave the company an "overweight" rating in a research note on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods upgraded Newmark Group from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $13.50 to $16.50 in a research report on Thursday, September 5th.

Newmark Group Price Performance

NASDAQ NMRK traded up $0.10 on Monday, reaching $13.12. The company's stock had a trading volume of 833,043 shares, compared to its average volume of 1,144,492. Newmark Group, Inc. has a twelve month low of $9.22 and a twelve month high of $16.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. The firm's 50 day moving average is $14.94 and its two-hundred day moving average is $13.47. The stock has a market cap of $2.24 billion, a PE ratio of 43.73 and a beta of 1.96.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $685.90 million during the quarter, compared to analyst estimates of $682.07 million. Newmark Group had a net margin of 2.00% and a return on equity of 18.95%. The business's quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 earnings per share. As a group, sell-side analysts predict that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 21st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Thursday, November 21st. Newmark Group's payout ratio is 40.00%.

Newmark Group Company 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.