Assenagon Asset Management S.A. Takes $916,000 Position in Newmark Group, Inc. (NASDAQ:NMRK)

Assenagon Asset Management S.A. bought a new position in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 75,280 shares of the company's stock, valued at approximately $916,000.

Other institutional investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its holdings in Newmark Group by 103.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,948,511 shares of the company's stock worth $37,770,000 after buying an additional 1,502,372 shares in the last quarter. Millennium Management LLC grew its holdings in Newmark Group by 138.5% during the fourth quarter. Millennium Management LLC now owns 1,916,186 shares of the company's stock worth $24,546,000 after buying an additional 1,112,610 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Newmark Group by 44.9% during the fourth quarter. Principal Financial Group Inc. now owns 3,098,429 shares of the company's stock worth $39,691,000 after buying an additional 960,799 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Newmark Group by 851.7% during the fourth quarter. Wells Fargo & Company MN now owns 848,475 shares of the company's stock worth $10,869,000 after buying an additional 759,324 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Newmark Group during the fourth quarter worth $5,277,000. 58.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NMRK shares. Wall Street Zen downgraded Newmark Group from a "buy" rating to a "hold" rating in a report on Friday, June 6th. The Goldman Sachs Group decreased their price target on Newmark Group from $19.50 to $17.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Keefe, Bruyette & Woods cut their price objective on Newmark Group from $14.50 to $14.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Wolfe Research raised Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price objective on the stock in a research report on Friday, May 23rd. Finally, Piper Sandler cut their price objective on Newmark Group from $19.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $15.25.

Newmark Group Stock Performance

Shares of NASDAQ:NMRK traded down $0.10 during midday trading on Friday, reaching $11.16. The company had a trading volume of 2,402,216 shares, compared to its average volume of 1,163,463. The company's 50 day moving average price is $11.08 and its 200 day moving average price is $12.50. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.50. The stock has a market cap of $2.06 billion, a P/E ratio of 28.62 and a beta of 1.94. Newmark Group, Inc. has a 52-week low of $9.64 and a 52-week high of $16.10.

Newmark Group (NASDAQ:NMRK - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. The company had revenue of $665.49 million for the quarter, compared to the consensus estimate of $609.28 million. Newmark Group had a net margin of 2.39% and a return on equity of 21.85%. The firm's quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 EPS. As a group, sell-side analysts anticipate that Newmark Group, Inc. will post 1.45 EPS for the current fiscal year.

Newmark Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Wednesday, May 14th were paid a $0.03 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.12 annualized dividend and a dividend yield of 1.08%. Newmark Group's payout ratio is presently 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.