Newmark Group, Inc. (NASDAQ:NMRK) Shares Bought by New York State Common Retirement Fund

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in Newmark Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 21,114,662 shares of the company's stock valued at $270,479,000 after purchasing an additional 83,094 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Newmark Group by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,374,705 shares of the company's stock valued at $81,660,000 after purchasing an additional 88,618 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Newmark Group by 103.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,948,511 shares of the company's stock valued at $37,770,000 after purchasing an additional 1,502,372 shares during the last quarter. Millennium Management LLC grew its stake in Newmark Group by 138.5% in the fourth quarter. Millennium Management LLC now owns 1,916,186 shares of the company's stock valued at $24,546,000 after purchasing an additional 1,112,610 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in Newmark Group by 2.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,675,161 shares of the company's stock valued at $21,459,000 after purchasing an additional 38,233 shares during the last quarter. Hedge funds and other institutional investors own 58.42% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Piper Sandler decreased their target price on Newmark Group from $19.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Keefe, Bruyette & Woods decreased their price target on Newmark Group from $14.50 to $14.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Wall Street Zen downgraded Newmark Group from a "buy" rating to a "hold" rating in a report on Friday. Finally, Wolfe Research raised Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price target for the company in a report on Friday, May 23rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $15.25.

Newmark Group Price Performance

Shares of NMRK traded down $0.08 during trading hours on Friday, hitting $12.31. 961,135 shares of the stock were exchanged, compared to its average volume of 1,179,473. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.47 and a current ratio of 0.47. Newmark Group, Inc. has a 12-month low of $9.65 and a 12-month high of $16.10. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 31.56 and a beta of 1.93. The stock's 50-day moving average price is $11.67 and its two-hundred day moving average price is $12.24.

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

Newmark Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Wednesday, May 14th. Newmark Group's dividend payout ratio (DPR) is presently 30.77%.

About Newmark Group

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.