Proficio Capital Partners LLC Acquires New Position in Newmark Group, Inc. (NASDAQ:NMRK)

Proficio Capital Partners LLC acquired a new position in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 21,367 shares of the company's stock, valued at approximately $274,000.

Several other hedge funds have also modified their holdings of the company. Assetmark Inc. raised its holdings in Newmark Group by 43.5% in 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 period. Highland Capital Management LLC purchased a new position in shares of Newmark Group during the 4th quarter valued at approximately $135,000. Coldstream Capital Management Inc. purchased a new position in shares of Newmark Group during the 3rd quarter valued at approximately $181,000. Asset Management One Co. Ltd. grew its stake in Newmark Group by 32.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 16,473 shares of the company's stock valued at $211,000 after acquiring an additional 4,019 shares during the period. Finally, ClearAlpha Technologies LP purchased a new stake in Newmark Group in the 3rd quarter worth $253,000. 58.42% of the stock is owned by hedge funds and other institutional investors.

Newmark Group Price Performance

NASDAQ NMRK traded down $0.37 during mid-day trading on Friday, hitting $12.11. The stock had a trading volume of 895,832 shares, compared to its average volume of 1,108,775. The firm's 50 day moving average is $13.56 and its 200 day moving average is $14.19. 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 stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 34.60 and a beta of 1.96. Newmark Group, Inc. has a twelve month low of $9.44 and a twelve month high of $16.10.

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Newmark Group (NASDAQ:NMRK - Get Free Report) last released 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. The business had revenue of $888.30 million during 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 company's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Equities research analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Monday, March 3rd. Newmark Group's dividend payout ratio (DPR) is 34.29%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group reduced their price target on shares of Newmark Group from $19.50 to $17.00 and set a "buy" rating for the company in a research report 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.