Ameriprise Financial Inc. Reduces Stock Position in Newmark Group, Inc. (NASDAQ:NMRK)

Ameriprise Financial Inc. reduced its position in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 10.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,327,042 shares of the company's stock after selling 150,250 shares during the quarter. Ameriprise Financial Inc. owned 0.78% of Newmark Group worth $16,999,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Barclays PLC lifted its position in Newmark Group by 0.3% during the fourth quarter. Barclays PLC now owns 227,866 shares of the company's stock worth $2,919,000 after acquiring an additional 767 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Newmark Group by 1.3% in the 4th quarter. MetLife Investment Management LLC now owns 79,900 shares of the company's stock valued at $1,024,000 after purchasing an additional 1,035 shares during the last quarter. Rhumbline Advisers grew its position in Newmark Group by 0.5% in the fourth quarter. Rhumbline Advisers now owns 237,015 shares of the company's stock valued at $3,036,000 after acquiring an additional 1,201 shares during the last quarter. Meeder Asset Management Inc. increased its position in Newmark Group by 19.1% during the 4th quarter. Meeder Asset Management Inc. now owns 15,620 shares of the company's stock worth $200,000 after purchasing an additional 2,504 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in shares of Newmark Group by 43.5% in the 4th quarter. Assetmark Inc. now owns 8,585 shares of the company's stock valued at $110,000 after acquiring an additional 2,602 shares during the last quarter. 58.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NMRK shares. Piper Sandler dropped their price objective on shares of Newmark Group from $19.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Keefe, Bruyette & Woods decreased their price objective on shares of Newmark Group from $14.50 to $14.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group lowered their price objective on shares of 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 Stock Performance

Newmark Group stock traded down $0.98 during mid-day trading on Wednesday, reaching $10.42. 1,708,650 shares of the company's stock were exchanged, compared to its average volume of 1,133,058. The business's fifty day simple moving average is $11.38 and its 200 day simple moving average is $13.11. 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, Inc. has a one year low of $9.64 and a one year high of $16.10. The firm has a market capitalization of $1.92 billion, a PE ratio of 29.74 and a beta of 1.99.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The company had revenue of $665.49 million for the quarter, compared to analysts' expectations of $609.28 million. During the same quarter in the previous year, the firm posted $0.15 EPS. Newmark Group's revenue was up 21.8% on a year-over-year basis. On average, sell-side analysts expect that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Wednesday, May 14th. Newmark Group's dividend payout ratio (DPR) is currently 30.77%.

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.