Newmark Group, Inc. (NASDAQ:NMRK) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 841,768 shares of the company's stock after selling 111,904 shares during the quarter. New York State Common Retirement Fund owned approximately 0.49% of Newmark Group worth $10,783,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. bought a new stake in shares of Newmark Group during the 3rd quarter worth $93,000. Highland Capital Management LLC purchased a new stake in shares of Newmark Group during the 4th quarter worth about $135,000. Blue Trust Inc. grew its position in Newmark Group by 408.2% in the third quarter. Blue Trust Inc. now owns 9,401 shares of the company's stock worth $146,000 after acquiring an additional 7,551 shares in the last quarter. OneDigital Investment Advisors LLC bought a new stake in Newmark Group in the third quarter worth $178,000. Finally, Coldstream Capital Management Inc. acquired a new position in shares of Newmark Group during the 3rd quarter valued at about $181,000. 58.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NMRK shares. Wolfe Research cut shares of Newmark Group from an "outperform" rating to a "peer perform" rating in a research note on Monday, November 25th. The Goldman Sachs Group initiated coverage on shares of Newmark Group in a report on Friday, December 6th. They set a "buy" rating and a $19.00 price objective on the stock.

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Newmark Group Price Performance

Shares of NASDAQ NMRK traded up $0.35 during mid-day trading on Friday, reaching $14.67. The company had a trading volume of 1,105,325 shares, compared to its average volume of 937,247. The business's 50-day simple moving average is $13.49 and its 200 day simple moving average is $14.25. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 41.92 and a beta of 1.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. Newmark Group, Inc. has a one year low of $9.44 and a one year high of $16.10.

Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its quarterly earnings results on Friday, February 14th. The company reported $0.55 EPS for the quarter, beating 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 return on equity of 20.74% and a net margin of 2.22%. The business's revenue for the quarter was up 18.9% on a year-over-year basis. During the same period last year, the firm posted $0.46 earnings per share. On average, research analysts predict that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.03 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.12 annualized dividend and a dividend yield of 0.82%. Newmark Group's dividend payout ratio is presently 34.29%.

Newmark Group 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.