Summit Global Investments Buys Shares of 85,753 Newmark Group, Inc. (NASDAQ:NMRK)

Summit Global Investments acquired a new position in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 85,753 shares of the company's stock, valued at approximately $1,098,000. Summit Global Investments owned 0.05% of Newmark Group as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. L.K. Benson & Company P.C. purchased a new position in shares of Newmark Group in the fourth quarter valued at approximately $398,000. Cibc World Markets Corp acquired a new stake in Newmark Group during the 4th quarter worth approximately $158,000. Inceptionr LLC boosted its position in Newmark Group by 21.7% in the 4th quarter. Inceptionr LLC now owns 25,976 shares of the company's stock valued at $333,000 after buying an additional 4,637 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Newmark Group in the fourth quarter worth $4,785,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Newmark Group during the fourth quarter worth $274,000. Institutional investors and hedge funds own 58.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NMRK shares. Wolfe Research lowered Newmark Group from an "outperform" rating to a "peer perform" rating in a research report on Monday, November 25th. The Goldman Sachs Group reduced their target price on shares of Newmark Group from $19.50 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th.

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Newmark Group Stock Down 0.8 %

Shares of NASDAQ:NMRK traded down $0.10 during trading on Tuesday, hitting $12.76. 482,899 shares of the company were exchanged, compared to its average volume of 1,070,509. Newmark Group, Inc. has a 12-month low of $9.44 and a 12-month high of $16.10. 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 $2.30 billion, a P/E ratio of 36.46 and a beta of 1.96. The firm's 50 day moving average price is $13.59 and its 200-day moving average price is $14.24.

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, topping the consensus estimate of $0.48 by $0.07. The company had revenue of $888.30 million for the quarter, compared to analyst estimates of $790.76 million. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The firm's revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 earnings per share. On average, research analysts predict that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Monday, March 3rd. Newmark Group's payout ratio is currently 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.