Empowered Funds LLC Acquires 38,195 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Empowered Funds LLC lifted its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 749,118 shares of the company's stock after buying an additional 38,195 shares during the quarter. Empowered Funds LLC owned about 0.44% of Newmark Group worth $11,634,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp bought a new stake in shares of Newmark Group in the second quarter worth $33,000. EntryPoint Capital LLC increased its position in Newmark Group by 35.5% during 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 during the period. Assetmark Inc. bought a new position in Newmark Group in the 3rd quarter valued at about $93,000. Black Diamond Financial LLC bought a new position in Newmark Group in the 2nd quarter valued at about $102,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of Newmark Group in the 2nd quarter valued at approximately $107,000. Institutional investors and hedge funds own 58.42% of the company's stock.

Analyst Ratings Changes

NMRK has been the topic of several recent research reports. Keefe, Bruyette & Woods upgraded shares of Newmark Group from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $13.50 to $16.50 in a research report on Thursday, September 5th. Piper Sandler boosted their price target on shares of Newmark Group from $13.00 to $17.00 and gave the company an "overweight" rating in a research note on Tuesday, September 3rd. Finally, Wolfe Research upgraded shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $15.00 price target for the company in a research note on Friday, August 16th.

Newmark Group Stock Performance

NASDAQ NMRK traded down $0.13 during trading on Friday, hitting $15.13. 1,265,817 shares of the company's stock traded hands, compared to its average volume of 1,158,953. The business has a 50 day moving average of $15.04 and a 200-day moving average of $12.56. Newmark Group, Inc. has a 12-month low of $7.63 and a 12-month high of $16.10. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 50.43 and a beta of 2.01. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.49 and a current ratio of 0.42.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. The company had revenue of $685.90 million for the quarter, compared to analysts' expectations 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 for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. As a group, equities research analysts anticipate that Newmark Group, Inc. will post 1.15 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Thursday, November 21st. Newmark Group's dividend payout ratio (DPR) is presently 40.00%.

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.