Man Group plc Sells 83,620 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Man Group plc cut its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 45.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,853 shares of the company's stock after selling 83,620 shares during the quarter. Man Group plc owned approximately 0.06% of Newmark Group worth $1,279,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC lifted 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 worth $53,000 after buying an additional 3,695 shares during the period. 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 purchasing an additional 2,602 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Newmark Group by 48.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company's stock valued at $120,000 after purchasing an additional 3,070 shares during the period. Optimize Financial Inc acquired a new position in shares of Newmark Group in the 4th quarter valued at about $132,000. Finally, Highland Capital Management LLC acquired a new position in shares of Newmark Group in the 4th quarter valued at about $135,000. 58.42% of the stock is owned by institutional investors and hedge funds.

Newmark Group Stock Up 1.2%

Newmark Group stock traded up $0.13 during midday trading on Thursday, reaching $10.96. The stock had a trading volume of 268,131 shares, compared to its average volume of 1,138,651. Newmark Group, Inc. has a 12 month low of $9.64 and a 12 month high of $16.10. The company has a market capitalization of $2.02 billion, a P/E ratio of 31.32 and a beta of 1.99. The company has a fifty day moving average price of $11.15 and a two-hundred day moving average price of $12.94. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52.

Newmark Group (NASDAQ:NMRK - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The business had revenue of $665.49 million during the quarter, compared to analyst estimates of $609.28 million. During the same period in the previous year, the company posted $0.15 EPS. The firm's revenue was up 21.8% compared to the same quarter last year. As a group, equities analysts expect that Newmark Group, Inc. will post 1.45 EPS for the current fiscal year.

Newmark Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Wednesday, May 14th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Wednesday, May 14th. Newmark Group's dividend payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

NMRK has been the topic of a number of recent analyst reports. Piper Sandler dropped their price objective on Newmark Group from $19.00 to $16.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Keefe, Bruyette & Woods dropped their price objective on Newmark Group from $14.50 to $14.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. The Goldman Sachs Group dropped their price objective on Newmark Group from $19.50 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Finally, 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 note on Friday, May 23rd.

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.