Raymond James Financial Inc. Purchases Shares of 373,532 Newmark Group, Inc. (NASDAQ:NMRK)

Raymond James Financial Inc. acquired a new stake in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 373,532 shares of the company's stock, valued at approximately $4,785,000. Raymond James Financial Inc. owned 0.22% of Newmark Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NMRK. Assetmark Inc. increased its stake in Newmark Group by 43.5% during the fourth quarter. Assetmark Inc. now owns 8,585 shares of the company's stock worth $110,000 after acquiring an additional 2,602 shares during the last quarter. Highland Capital Management LLC purchased a new stake in shares of Newmark Group during the 4th quarter worth about $135,000. Cibc World Markets Corp acquired a new stake in Newmark Group during the 4th quarter worth approximately $158,000. LPL Financial LLC purchased a new position in Newmark Group in the fourth quarter valued at approximately $184,000. Finally, Meeder Asset Management Inc. raised its holdings in Newmark Group by 19.1% in the fourth quarter. Meeder Asset Management Inc. now owns 15,620 shares of the company's stock valued at $200,000 after buying an additional 2,504 shares during the period. 58.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Newmark Group Price Performance

Shares of NMRK stock opened at $11.13 on Friday. Newmark Group, Inc. has a twelve month low of $9.51 and a twelve month high of $16.10. The company has a market capitalization of $2.01 billion, a PE ratio of 31.80 and a beta of 1.69. 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 firm has a fifty day simple moving average of $12.18 and a 200-day simple moving average of $13.54.

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. Equities research analysts anticipate 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. Investors of record on Monday, March 3rd were issued a $0.03 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.12 annualized dividend and a yield of 1.08%. Newmark Group's dividend payout ratio is presently 34.29%.

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.

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