Norges Bank Invests $3.31 Million in Newmark Group, Inc. (NASDAQ:NMRK)

Norges Bank acquired a new stake in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 258,139 shares of the company's stock, valued at approximately $3,307,000. Norges Bank owned about 0.15% of Newmark Group at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its stake in Newmark Group by 43.5% in the 4th quarter. Assetmark Inc. now owns 8,585 shares of the company's stock valued at $110,000 after buying an additional 2,602 shares in the last quarter. Highland Capital Management LLC acquired a new position in shares of Newmark Group in the fourth quarter worth $135,000. Coldstream Capital Management Inc. purchased a new stake in shares of Newmark Group in the third quarter valued at $181,000. Cibc World Markets Corp acquired a new stake in shares of Newmark Group during the fourth quarter valued at $158,000. Finally, LPL Financial LLC purchased a new stake in Newmark Group during the 4th quarter worth about $184,000. Institutional investors and hedge funds own 58.42% of the company's stock.

Newmark Group Stock Down 0.4 %

Shares of NMRK traded down $0.05 during mid-day trading on Wednesday, reaching $10.48. 52,229 shares of the stock traded hands, compared to its average volume of 1,124,104. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 29.93 and a beta of 1.69. The stock has a fifty day simple moving average of $12.74 and a 200 day simple moving average of $13.79. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. Newmark Group, Inc. has a 12-month low of $9.44 and a 12-month high of $16.10.

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Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its earnings results on Friday, February 14th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.07. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The business had revenue of $888.30 million for the quarter, compared to analyst estimates of $790.76 million. During the same period in the previous year, the company earned $0.46 earnings per share. The company's revenue for the quarter was up 18.9% compared to the same quarter last year. Sell-side analysts expect that Newmark Group, Inc. will post 1.45 EPS for the current fiscal year.

Newmark Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors 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 yield of 1.15%. Newmark Group's dividend payout ratio (DPR) is 34.29%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group decreased their price target on shares of Newmark Group from $19.50 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th.

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.