Boston Partners Buys 1,146,544 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Key Points

• Boston Partners significantly increased its stake in Newmark Group, acquiring over 1.1 million shares, bringing its total to about 1.34 million shares worth approximately $16.3 million.
• Newmark Group reported a 19.9% increase in revenue year-over-year, with earnings per share of $0.31 for the recent quarter, surpassing analysts' expectations of $0.26.
• The company declared a quarterly dividend of $0.03, yielding 0.7%, with a payout ratio of 28.57% and the dividend date set for August 29th.

Boston Partners increased its stake in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 593.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,339,730 shares of the company's stock after purchasing an additional 1,146,544 shares during the quarter. Boston Partners owned approximately 0.74% of Newmark Group worth $16,299,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NMRK. Financial Management Professionals Inc. bought a new stake in Newmark Group during the 1st quarter valued at $26,000. Sterling Capital Management LLC raised its holdings in Newmark Group by 813.9% during the 4th quarter. Sterling Capital Management LLC now owns 4,149 shares of the company's stock valued at $53,000 after acquiring an additional 3,695 shares during the period. KBC Group NV bought a new stake in Newmark Group during the 1st quarter valued at $78,000. CWM LLC raised its holdings in Newmark Group by 63.8% during the 1st quarter. CWM LLC now owns 7,693 shares of the company's stock valued at $94,000 after acquiring an additional 2,996 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Newmark Group by 48.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company's stock valued at $120,000 after acquiring an additional 3,070 shares during the period. Institutional investors own 58.42% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Newmark Group from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Wolfe Research raised shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 target price on the stock in a report on Friday, May 23rd. JMP Securities boosted their target price on shares of Newmark Group from $17.00 to $19.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Citizens Jmp assumed coverage on shares of Newmark Group in a report on Monday, July 21st. They set a "strong-buy" rating and a $17.00 target price on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Newmark Group from $14.00 to $15.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $16.83.

Newmark Group Stock Down 0.5%

NMRK opened at $17.29 on Friday. The company has a fifty day moving average price of $13.28 and a 200-day moving average price of $12.54. The firm has a market capitalization of $3.19 billion, a P/E ratio of 41.17 and a beta of 2.04. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.39 and a quick ratio of 0.47. Newmark Group, Inc. has a one year low of $9.65 and a one year high of $17.47.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.05. The firm had revenue of $759.10 million during the quarter, compared to analyst estimates of $695.24 million. Newmark Group had a net margin of 2.51% and a return on equity of 22.73%. The business's revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 EPS. Equities research analysts expect that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, August 14th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 14th. Newmark Group's dividend payout ratio is currently 28.57%.

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.

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