Assenagon Asset Management S.A. Sells 151,038 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Assenagon Asset Management S.A. lessened its holdings in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 21.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 557,262 shares of the company's stock after selling 151,038 shares during the quarter. Assenagon Asset Management S.A. owned 0.32% of Newmark Group worth $8,654,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in Newmark Group by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company's stock worth $227,067,000 after purchasing an additional 702,233 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Newmark Group by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company's stock worth $68,399,000 after buying an additional 480,047 shares during the last quarter. Leeward Investments LLC MA increased its holdings in shares of Newmark Group by 5.6% during the second quarter. Leeward Investments LLC MA now owns 1,907,574 shares of the company's stock worth $19,514,000 after buying an additional 101,426 shares in the last quarter. Systematic Financial Management LP lifted its stake in shares of Newmark Group by 11.9% in the 2nd quarter. Systematic Financial Management LP now owns 928,935 shares of the company's stock valued at $9,503,000 after acquiring an additional 98,532 shares during the last quarter. Finally, Foundry Partners LLC boosted its holdings in shares of Newmark Group by 5.3% during the 2nd quarter. Foundry Partners LLC now owns 840,576 shares of the company's stock valued at $8,599,000 after acquiring an additional 42,314 shares in the last quarter. Institutional investors own 58.42% of the company's stock.

Newmark Group Trading Down 1.3 %

NASDAQ NMRK traded down $0.19 on Tuesday, reaching $14.91. The company had a trading volume of 734,815 shares, compared to its average volume of 1,150,912. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 56.96 and a beta of 2.01. Newmark Group, Inc. has a fifty-two week low of $5.43 and a fifty-two week high of $16.10. The business has a 50 day moving average of $14.63 and a two-hundred day moving average of $12.10. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.49 and a quick ratio of 0.49.

Newmark Group (NASDAQ:NMRK - Get Free Report) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $633.40 million during the quarter, compared to analysts' expectations of $630.27 million. Newmark Group had a return on equity of 17.78% and a net margin of 1.75%. The business's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Analysts forecast that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.80%. Newmark Group's dividend payout ratio (DPR) is currently 46.15%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NMRK shares. Wolfe Research raised Newmark Group from a "peer perform" rating to an "outperform" rating and set a $15.00 target price for the company in a report on Friday, August 16th. Keefe, Bruyette & Woods raised Newmark Group from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $13.50 to $16.50 in a research note on Thursday, September 5th. 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 report on Tuesday, September 3rd.

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.