Allspring Global Investments Holdings LLC Purchases 61,563 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Allspring Global Investments Holdings LLC grew its stake in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 104.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,535 shares of the company's stock after buying an additional 61,563 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of Newmark Group worth $1,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp bought a new stake in shares of Newmark Group during the 2nd quarter valued at about $33,000. EntryPoint Capital LLC boosted its holdings in Newmark Group by 35.5% in the first quarter. EntryPoint Capital LLC now owns 4,422 shares of the company's stock worth $49,000 after acquiring an additional 1,159 shares in the last quarter. Black Diamond Financial LLC bought a new position in Newmark Group in the second quarter worth approximately $102,000. Evergreen Capital Management LLC bought a new position in Newmark Group in the second quarter worth approximately $107,000. Finally, SG Americas Securities LLC bought a new position in Newmark Group in the third quarter worth approximately $112,000. Institutional investors and hedge funds own 58.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods upgraded Newmark Group from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $13.50 to $16.50 in a report on Thursday, September 5th. Piper Sandler raised their target price on Newmark Group from $13.00 to $17.00 and gave the company an "overweight" rating in a report on Tuesday, September 3rd. Finally, Wolfe Research raised Newmark Group from a "peer perform" rating to an "outperform" rating and set a $15.00 price target for the company in a research report on Friday, August 16th.

Newmark Group Price Performance

NMRK stock traded down $0.05 during mid-day trading on Thursday, hitting $14.99. 959,079 shares of the stock were exchanged, compared to its average volume of 1,147,609. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 57.85 and a beta of 2.01. The business has a fifty day moving average price of $14.71 and a 200 day moving average price of $12.16. 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, Inc. has a 12 month low of $5.52 and a 12 month high of $16.10.

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

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.