Newmark Group, Inc. (NASDAQ:NMRK) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 54.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,072 shares of the company's stock after buying an additional 21,773 shares during the period. Allspring Global Investments Holdings LLC's holdings in Newmark Group were worth $752,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NMRK. Financial Management Professionals Inc. purchased a new stake in Newmark Group during the 1st quarter worth $26,000. Sterling Capital Management LLC increased its stake 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. increased its stake in Newmark Group by 43.5% during the 4th quarter. Assetmark Inc. now owns 8,585 shares of the company's stock worth $110,000 after buying an additional 2,602 shares during the period. Tower Research Capital LLC TRC increased its stake 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 worth $120,000 after buying an additional 3,070 shares during the period. Finally, Berry Wealth Group LP purchased a new stake in Newmark Group during the 1st quarter worth $127,000. Hedge funds and other institutional investors own 58.42% of the company's stock.

Analyst Ratings Changes

NMRK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of Newmark Group from $14.50 to $14.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Piper Sandler decreased their price objective on shares of Newmark Group from $19.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Wolfe Research raised shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price objective for the company in a report on Friday, May 23rd. Wall Street Zen raised shares of Newmark Group from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Finally, The Goldman Sachs Group decreased their price target on shares of Newmark Group from $19.50 to $17.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $15.25.

Newmark Group Stock Performance

NASDAQ:NMRK traded down $0.07 during mid-day trading on Friday, hitting $12.56. The stock had a trading volume of 921,691 shares, compared to its average volume of 1,181,646. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 32.21 and a beta of 1.93. The company has a 50 day simple moving average of $11.55 and a 200-day simple moving average of $12.25. Newmark Group, Inc. has a 52 week low of $9.65 and a 52 week high of $16.10. 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 (NASDAQ:NMRK - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. The firm 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% compared to the same quarter last year. During the same period last year, the firm posted $0.15 EPS. On average, research analysts expect that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Wednesday, May 14th. Newmark Group's dividend payout ratio is currently 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.