Teacher Retirement System of Texas Sells 177,522 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Teacher Retirement System of Texas cut its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 90.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,896 shares of the company's stock after selling 177,522 shares during the period. Teacher Retirement System of Texas' holdings in Newmark Group were worth $229,000 as of its most recent SEC filing.

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

Newmark Group Stock Down 5.0 %

NMRK traded down $0.56 during midday trading on Friday, reaching $10.71. The company's stock had a trading volume of 1,828,069 shares, compared to its average volume of 1,118,887. Newmark Group, Inc. has a 1 year low of $9.44 and a 1 year high of $16.10. The stock's 50-day moving average is $13.36 and its 200-day moving average is $14.08. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 30.60 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.

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Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings data on Friday, February 14th. The company reported $0.55 earnings per share for the quarter, beating 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 company had revenue of $888.30 million during the quarter, compared to analyst estimates of $790.76 million. During the same quarter last year, the company earned $0.46 EPS. The firm's revenue for the quarter was up 18.9% on a year-over-year basis. As a group, research analysts expect that Newmark Group, Inc. will post 1.45 EPS for the current year.

Newmark Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors 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 1.12%. The ex-dividend date was Monday, March 3rd. Newmark Group's dividend payout ratio (DPR) is 34.29%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lowered their target price on Newmark Group from $19.50 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th.

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.