New York State Common Retirement Fund Sells 268,151 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

New York State Common Retirement Fund lessened its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 21.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 953,672 shares of the company's stock after selling 268,151 shares during the quarter. New York State Common Retirement Fund owned about 0.55% of Newmark Group worth $14,811,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fifth Third Bancorp purchased a new position in Newmark Group during the second quarter valued at approximately $33,000. EntryPoint Capital LLC increased its holdings in shares of 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 purchasing an additional 1,159 shares during the period. Black Diamond Financial LLC purchased a new stake in shares of Newmark Group in the second quarter worth $102,000. Evergreen Capital Management LLC bought a new stake in Newmark Group during the second quarter valued at $107,000. Finally, SG Americas Securities LLC purchased a new position in Newmark Group during the third quarter worth about $112,000. 58.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Newmark Group Price Performance

Shares of NASDAQ NMRK traded down $0.15 during trading hours on Wednesday, reaching $14.75. 2,416,023 shares of the stock traded hands, compared to its average volume of 1,350,841. The company's 50-day simple moving average is $14.81 and its two-hundred day simple moving average is $12.32. The company has a market capitalization of $2.53 billion, a P/E ratio of 56.73 and a beta of 2.01. Newmark Group, Inc. has a 52-week low of $6.64 and a 52-week high of $16.10. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.49.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The firm had revenue of $685.90 million for the quarter, compared to the consensus estimate of $682.07 million. During the same period last year, the firm posted $0.27 earnings per share. The business's revenue was up 11.3% compared to the same quarter last year. Equities research analysts forecast that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Dividend Announcement

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. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.81%. Newmark Group's dividend payout ratio (DPR) is currently 46.16%.

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.