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

Summit Global Investments purchased a new stake in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 85,753 shares of the company's stock, valued at approximately $1,098,000. Summit Global Investments owned 0.05% of Newmark Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Newmark Group by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,554,867 shares of the company's stock worth $55,216,000 after purchasing an additional 190,974 shares during the period. Algert Global LLC raised its position in Newmark Group by 64.3% in the third quarter. Algert Global LLC now owns 238,138 shares of the company's stock worth $3,698,000 after acquiring an additional 93,160 shares during the period. JPMorgan Chase & Co. raised its position in Newmark Group by 13.3% in the third quarter. JPMorgan Chase & Co. now owns 1,223,807 shares of the company's stock worth $19,006,000 after acquiring an additional 143,251 shares during the period. Barclays PLC grew its position in shares of Newmark Group by 352.8% during the 3rd quarter. Barclays PLC now owns 227,099 shares of the company's stock valued at $3,526,000 after acquiring an additional 176,947 shares during the period. Finally, Captrust Financial Advisors bought a new stake in shares of Newmark Group during the 3rd quarter valued at $835,000. 58.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group decreased their target price on Newmark Group from $19.50 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th.

Newmark Group Price Performance

NASDAQ:NMRK traded down $0.14 during trading hours on Thursday, hitting $12.48. 579,412 shares of the stock traded hands, compared to its average volume of 1,069,539. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 35.66 and a beta of 1.96. Newmark Group, Inc. has a 1 year low of $9.44 and a 1 year high of $16.10. The stock has a 50 day moving average price of $13.60 and a 200 day moving average price of $14.22. 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 issued its earnings results on Friday, February 14th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $790.76 million. During the same quarter in the prior year, the firm posted $0.46 EPS. Newmark Group's quarterly revenue was up 18.9% compared to the same quarter last year. Sell-side analysts forecast that Newmark Group, Inc. will post 1.45 EPS for the current fiscal year.

Newmark Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid 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 0.96%. Newmark Group's payout ratio is 34.29%.

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.