Penn Capital Management Company LLC Sells 88,855 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Penn Capital Management Company LLC lessened its holdings in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 7.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,156,236 shares of the company's stock after selling 88,855 shares during the period. Newmark Group makes up approximately 1.5% of Penn Capital Management Company LLC's portfolio, making the stock its 15th largest position. Penn Capital Management Company LLC owned 0.68% of Newmark Group worth $14,811,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NMRK. Sterling Capital Management LLC grew its holdings in shares of Newmark Group by 813.9% during the fourth quarter. Sterling Capital Management LLC now owns 4,149 shares of the company's stock worth $53,000 after buying an additional 3,695 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Newmark Group by 43.5% during the 4th quarter. Assetmark Inc. now owns 8,585 shares of the company's stock worth $110,000 after purchasing an additional 2,602 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Newmark Group by 48.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company's stock worth $120,000 after buying an additional 3,070 shares during the period. Optimize Financial Inc purchased a new position in shares of Newmark Group in the 4th quarter worth about $132,000. Finally, Highland Capital Management LLC purchased a new position in Newmark Group in the fourth quarter valued at about $135,000. 58.42% of the stock is currently owned by institutional investors and hedge funds.

Newmark Group Stock Up 0.5 %

NASDAQ NMRK traded up $0.06 during trading on Monday, reaching $11.19. The company's stock had a trading volume of 925,029 shares, compared to its average volume of 1,143,126. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $2.02 billion, a PE ratio of 31.97 and a beta of 1.69. Newmark Group, Inc. has a 1-year low of $9.51 and a 1-year high of $16.10. The business has a 50-day moving average price of $12.18 and a 200-day moving average price of $13.52.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released 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. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The company had revenue of $888.30 million for the quarter, compared to analyst estimates of $790.76 million. During the same quarter last year, the firm posted $0.46 earnings per share. The company's quarterly revenue was up 18.9% compared to the same quarter last year. On average, research analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.03 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.12 annualized dividend and a yield of 1.07%. Newmark Group's dividend payout ratio is 34.29%.

Analyst Ratings Changes

NMRK has been the topic of several analyst reports. The Goldman Sachs Group dropped their price objective on Newmark Group from $19.50 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. Keefe, Bruyette & Woods cut their price objective on Newmark Group from $18.00 to $14.50 and set an "outperform" rating on the stock in a report on Thursday, April 17th.

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.