KLP Kapitalforvaltning AS Buys New Stake in Newmark Group, Inc. (NASDAQ:NMRK)

KLP Kapitalforvaltning AS bought a new stake in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 29,805 shares of the company's stock, valued at approximately $382,000.

Several other hedge funds also recently bought and sold shares of NMRK. Principal Financial Group Inc. increased its position in Newmark Group by 1,017.4% during the 3rd quarter. Principal Financial Group Inc. now owns 2,137,630 shares of the company's stock worth $33,197,000 after purchasing an additional 1,946,322 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Newmark Group during the 4th quarter worth about $4,785,000. State Street Corp grew its holdings in shares of Newmark Group by 7.8% during the third quarter. State Street Corp now owns 3,426,682 shares of the company's stock worth $53,216,000 after buying an additional 247,433 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Newmark Group by 5.7% in the third quarter. Geode Capital Management LLC now owns 3,554,867 shares of the company's stock valued at $55,216,000 after buying an additional 190,974 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Newmark Group by 352.8% during the third quarter. Barclays PLC now owns 227,099 shares of the company's stock valued at $3,526,000 after buying an additional 176,947 shares during the period. Hedge funds and other institutional investors own 58.42% of the company's stock.

Analyst Ratings Changes

Separately, The Goldman Sachs Group lowered their target price 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.

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Newmark Group Trading Up 7.9 %

Shares of NASDAQ NMRK traded up $0.81 on Wednesday, reaching $11.05. 1,690,588 shares of the company traded hands, compared to its average volume of 1,127,414. The stock has a market capitalization of $1.99 billion, a PE ratio of 31.57 and a beta of 1.69. 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 current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average of $13.02 and a 200 day moving average of $13.93.

Newmark Group (NASDAQ:NMRK - Get Free Report) last issued its quarterly earnings results on Friday, February 14th. The company reported $0.55 EPS for the quarter, topping the consensus estimate 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 net margin of 2.22% and a return on equity of 20.74%. Newmark Group's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 earnings per share. On average, equities research analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Monday, March 3rd. Newmark Group's dividend payout ratio (DPR) is presently 34.29%.

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.