Newmark Group, Inc. (NASDAQ:NMRK) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 851.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 848,475 shares of the company's stock after purchasing an additional 759,324 shares during the quarter. Wells Fargo & Company MN owned about 0.50% of Newmark Group worth $10,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in shares of Newmark Group by 0.5% during the 4th quarter. Rhumbline Advisers now owns 237,015 shares of the company's stock valued at $3,036,000 after purchasing an additional 1,201 shares during the last quarter. Meeder Asset Management Inc. raised its stake in Newmark Group by 19.1% in the fourth quarter. Meeder Asset Management Inc. now owns 15,620 shares of the company's stock valued at $200,000 after buying an additional 2,504 shares during the last quarter. Assetmark Inc. boosted its holdings in Newmark Group by 43.5% in the fourth quarter. Assetmark Inc. now owns 8,585 shares of the company's stock worth $110,000 after acquiring an additional 2,602 shares in the last quarter. Sei Investments Co. grew its stake in shares of Newmark Group by 2.5% during the fourth quarter. Sei Investments Co. now owns 120,691 shares of the company's stock worth $1,546,000 after acquiring an additional 2,976 shares during the last quarter. Finally, Oliver Luxxe Assets LLC increased its holdings in shares of Newmark Group by 3.4% during the fourth quarter. Oliver Luxxe Assets LLC now owns 101,743 shares of the company's stock valued at $1,303,000 after acquiring an additional 3,353 shares in the last quarter. Institutional investors own 58.42% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Newmark Group from $18.00 to $14.50 and set an "outperform" rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group dropped their price objective on shares of Newmark Group from $19.50 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th.

Newmark Group Stock Performance

NASDAQ:NMRK traded up $0.29 during midday trading on Tuesday, hitting $10.38. The company's stock had a trading volume of 989,807 shares, compared to its average volume of 1,135,795. Newmark Group, Inc. has a fifty-two week low of $9.45 and a fifty-two week high of $16.10. 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 firm has a market cap of $1.87 billion, a P/E ratio of 29.66 and a beta of 1.69. The firm's 50 day moving average is $12.40 and its 200-day moving average is $13.60.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its quarterly earnings data on Friday, February 14th. The company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.07. The firm had revenue of $888.30 million for 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%. The business's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share. Equities analysts anticipate that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.03 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.16%. Newmark Group's payout ratio is 34.29%.

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.