Geode Capital Management LLC Cuts Stock Position in Newmark Group, Inc. (NASDAQ:NMRK)

Geode Capital Management LLC lowered its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,528,578 shares of the company's stock after selling 26,289 shares during the quarter. Geode Capital Management LLC owned 2.06% of Newmark Group worth $45,210,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in NMRK. Vanguard Group Inc. raised its position in shares of Newmark Group by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 21,114,662 shares of the company's stock valued at $270,479,000 after buying an additional 83,094 shares in the last quarter. State Street Corp boosted its holdings in shares of 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 during the period. Principal Financial Group Inc. increased its position in shares of Newmark Group by 44.9% during the 4th quarter. Principal Financial Group Inc. now owns 3,098,429 shares of the company's stock valued at $39,691,000 after purchasing an additional 960,799 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Newmark Group by 103.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,948,511 shares of the company's stock valued at $37,770,000 after buying an additional 1,502,372 shares during the period. Finally, American Century Companies Inc. lifted its position in Newmark Group by 5.1% in the fourth quarter. American Century Companies Inc. now owns 1,541,854 shares of the company's stock worth $19,751,000 after buying an additional 75,502 shares during the last quarter. 58.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NMRK. The Goldman Sachs Group reduced their target price on shares of Newmark Group from $19.50 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Keefe, Bruyette & Woods cut their target price on Newmark Group from $18.00 to $14.50 and set an "outperform" rating on the stock in a research note on Thursday.

Newmark Group Trading Up 0.3 %

NMRK stock traded up $0.03 during trading on Friday, hitting $10.39. The company had a trading volume of 949,022 shares, compared to its average volume of 1,133,784. The firm has a market capitalization of $1.88 billion, a P/E ratio of 29.69 and a beta of 1.69. 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 52-week low of $9.45 and a 52-week high of $16.10. The company has a 50 day simple moving average of $12.54 and a 200-day simple moving average of $13.67.

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

Newmark Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 dividend yield of 1.15%. Newmark Group's payout ratio is presently 34.29%.

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.