State Street Corp Boosts Holdings in Newmark Group, Inc. (NASDAQ:NMRK)

State Street Corp increased its holdings in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 7.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,426,682 shares of the company's stock after purchasing an additional 247,433 shares during the quarter. State Street Corp owned 1.99% of Newmark Group worth $53,216,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp acquired a new position in Newmark Group during the second quarter worth $33,000. Assetmark Inc. acquired a new position in shares of Newmark Group during the 3rd quarter valued at about $93,000. SG Americas Securities LLC acquired a new stake in Newmark Group during the third quarter worth about $112,000. Blue Trust Inc. raised its stake in Newmark Group by 408.2% during the third quarter. Blue Trust Inc. now owns 9,401 shares of the company's stock worth $146,000 after purchasing an additional 7,551 shares during the period. Finally, Black Diamond Financial LLC acquired a new stake in shares of Newmark Group during the 2nd quarter worth approximately $102,000. Hedge funds and other institutional investors own 58.42% of the company's stock.

Newmark Group Stock Down 3.1 %

Newmark Group stock traded down $0.41 during midday trading on Thursday, reaching $12.79. The company's stock had a trading volume of 816,348 shares, compared to its average volume of 1,139,838. The business has a 50-day simple moving average of $15.03 and a 200-day simple moving average of $13.38. The company has a market cap of $2.19 billion, a P/E ratio of 42.63 and a beta of 1.96. Newmark Group, Inc. has a fifty-two week low of $9.22 and a fifty-two week high of $16.10. 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 (NASDAQ:NMRK - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. The firm had revenue of $685.90 million during the quarter, compared to the consensus estimate of $682.07 million. During the same period in the prior year, the company posted $0.27 earnings per share. The firm's quarterly revenue was up 11.3% compared to the same quarter last year. On average, research analysts expect that Newmark Group, Inc. will post 1.15 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 21st were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.12 annualized dividend and a yield of 0.94%. Newmark Group's dividend payout ratio is currently 40.00%.

Analysts Set New Price Targets

Several brokerages have recently commented on NMRK. Piper Sandler upped their price target on Newmark Group from $13.00 to $17.00 and gave the company an "overweight" rating in a research note on Tuesday, September 3rd. Wolfe Research lowered shares of Newmark Group from an "outperform" rating to a "peer perform" rating in a report on Monday, November 25th. The Goldman Sachs Group began coverage on Newmark Group in a research note on Friday, December 6th. They set a "buy" rating and a $19.00 price target on the stock. Finally, Keefe, Bruyette & Woods raised Newmark Group from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $13.50 to $16.50 in a research note on Thursday, September 5th.

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.