JPMorgan Chase & Co. Buys 143,251 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

JPMorgan Chase & Co. raised its stake in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 13.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,223,807 shares of the company's stock after purchasing an additional 143,251 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.72% of Newmark Group worth $19,006,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Rhumbline Advisers raised its holdings in shares of Newmark Group by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 247,351 shares of the company's stock valued at $2,530,000 after purchasing an additional 4,888 shares during the period. Victory Capital Management Inc. raised its stake in Newmark Group by 68.1% in the second quarter. Victory Capital Management Inc. now owns 99,133 shares of the company's stock valued at $1,014,000 after buying an additional 40,174 shares during the period. Quest Partners LLC lifted its position in shares of Newmark Group by 40.8% in the second quarter. Quest Partners LLC now owns 49,706 shares of the company's stock valued at $508,000 after buying an additional 14,415 shares during the last quarter. AdvisorShares Investments LLC bought a new position in shares of Newmark Group during the 2nd quarter worth approximately $462,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Newmark Group by 19.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 14,526 shares of the company's stock worth $149,000 after acquiring an additional 2,324 shares during the period. Institutional investors and hedge funds own 58.42% of the company's stock.

Analyst Ratings Changes

NMRK has been the subject of several research reports. The Goldman Sachs Group assumed coverage on Newmark Group in a report on Friday, December 6th. They set a "buy" rating and a $19.00 price target for the company. Wolfe Research downgraded shares of Newmark Group from an "outperform" rating to a "peer perform" rating in a report on Monday, November 25th.

Newmark Group Stock Performance

NMRK traded down $0.45 during trading on Friday, hitting $11.95. The stock had a trading volume of 862,522 shares, compared to its average volume of 909,487. 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 company has a 50 day moving average price of $14.32 and a 200-day moving average price of $13.67. Newmark Group, Inc. has a one year low of $9.22 and a one year high of $16.10. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 39.83 and a beta of 1.99.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its quarterly 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 for the quarter, compared to the consensus estimate of $682.07 million. Newmark Group had a net margin of 2.00% and a return on equity of 18.95%. Newmark Group's revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 earnings per share. As a group, research analysts predict that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.12 dividend on an annualized basis and a yield of 1.00%. Newmark Group's dividend payout ratio (DPR) is presently 40.00%.

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.