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

Assenagon Asset Management S.A. bought a new stake in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 75,280 shares of the company's stock, valued at approximately $916,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Barclays PLC lifted its stake in shares of Newmark Group by 0.3% in the 4th quarter. Barclays PLC now owns 227,866 shares of the company's stock valued at $2,919,000 after acquiring an additional 767 shares during the last quarter. MetLife Investment Management LLC increased its holdings in Newmark Group by 1.3% in the 4th quarter. MetLife Investment Management LLC now owns 79,900 shares of the company's stock worth $1,024,000 after purchasing an additional 1,035 shares in the last quarter. Rhumbline Advisers increased its holdings in Newmark Group by 0.5% in the 4th quarter. Rhumbline Advisers now owns 237,015 shares of the company's stock worth $3,036,000 after purchasing an additional 1,201 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Newmark Group by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 32,806 shares of the company's stock worth $420,000 after purchasing an additional 1,286 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in Newmark Group by 2.7% in the fourth quarter. Cetera Investment Advisers now owns 53,635 shares of the company's stock valued at $687,000 after purchasing an additional 1,385 shares during the last quarter. Institutional investors own 58.42% of the company's stock.

Newmark Group Trading Down 0.9%

Shares of NMRK traded down $0.10 during mid-day trading on Friday, reaching $11.16. 2,402,216 shares of the company were exchanged, compared to its average volume of 1,163,965. The business has a 50 day simple moving average of $11.09 and a two-hundred day simple moving average of $12.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market capitalization of $2.06 billion, a PE 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 released its earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. The business had revenue of $665.49 million during 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 company's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 EPS. On average, analysts predict that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Wednesday, May 14th were issued a $0.03 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.12 annualized dividend and a yield of 1.08%. Newmark Group's payout ratio is 30.77%.

Analysts Set New Price Targets

NMRK has been the topic of several research reports. Wall Street Zen upgraded Newmark Group from a "hold" rating to a "buy" rating in a report on Saturday. The Goldman Sachs Group cut their target price on shares of Newmark Group from $19.50 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Piper Sandler decreased their price target on shares of Newmark Group from $19.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Keefe, Bruyette & Woods dropped their price target on shares of Newmark Group from $14.50 to $14.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Wolfe Research upgraded shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price target on the stock in a report on Friday, May 23rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $15.25.

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.