New York State Common Retirement Fund Has $11.46 Million Stake in Newmark Group, Inc. (NASDAQ:NMRK)

New York State Common Retirement Fund raised its stake in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 11.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 941,377 shares of the company's stock after purchasing an additional 99,609 shares during the quarter. New York State Common Retirement Fund owned about 0.52% of Newmark Group worth $11,457,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Newmark Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 21,114,662 shares of the company's stock valued at $270,479,000 after buying an additional 83,094 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Newmark Group by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,374,705 shares of the company's stock valued at $81,660,000 after acquiring an additional 88,618 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Newmark Group by 103.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,948,511 shares of the company's stock worth $37,770,000 after acquiring an additional 1,502,372 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Newmark Group by 138.5% in the 4th quarter. Millennium Management LLC now owns 1,916,186 shares of the company's stock worth $24,546,000 after acquiring an additional 1,112,610 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of Newmark Group by 2.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,675,161 shares of the company's stock worth $21,459,000 after purchasing an additional 38,233 shares during the period. 58.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citizens Jmp initiated coverage on shares of Newmark Group in a research report on Monday. They set a "strong-buy" rating and a $17.00 price objective on the stock. Wall Street Zen cut Newmark Group from a "buy" rating to a "hold" rating in a research report on Friday. Piper Sandler lowered their price objective on Newmark Group from $19.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Keefe, Bruyette & Woods reduced their target price on Newmark Group from $14.50 to $14.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Wolfe Research upgraded 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. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Newmark Group currently has a consensus rating of "Buy" and a consensus target price of $15.83.

Newmark Group Stock Performance

NASDAQ:NMRK traded up $0.35 during mid-day trading on Tuesday, hitting $13.10. 1,227,073 shares of the company's stock traded hands, compared to its average volume of 1,185,890. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 33.59 and a beta of 1.93. The firm has a 50 day moving average of $11.68 and a two-hundred day moving average of $12.23. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.50. Newmark Group, Inc. has a 12 month low of $9.65 and a 12 month high of $16.10.

Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. The business 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%. Newmark Group's quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the company posted $0.15 earnings per share. On average, equities analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Wednesday, May 14th were given a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.92%. Newmark Group's dividend payout ratio 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.