Allspring Global Investments Holdings LLC Purchases 21,773 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Allspring Global Investments Holdings LLC increased its stake in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 54.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,072 shares of the company's stock after acquiring an additional 21,773 shares during the period. Allspring Global Investments Holdings LLC's holdings in Newmark Group were worth $752,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of Newmark Group by 0.3% in the 4th quarter. Barclays PLC now owns 227,866 shares of the company's stock worth $2,919,000 after purchasing an additional 767 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Newmark Group by 1.3% in the fourth quarter. MetLife Investment Management LLC now owns 79,900 shares of the company's stock worth $1,024,000 after buying an additional 1,035 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Newmark Group by 4.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 32,806 shares of the company's stock valued at $420,000 after acquiring an additional 1,286 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Newmark Group by 2.7% during the fourth quarter. Cetera Investment Advisers now owns 53,635 shares of the company's stock worth $687,000 after acquiring an additional 1,385 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Newmark Group by 2.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,900 shares of the company's stock worth $959,000 after acquiring an additional 1,653 shares during the last quarter. Institutional investors own 58.42% of the company's stock.

Newmark Group Trading Up 2.0%

Shares of NASDAQ NMRK traded up $0.25 during trading hours on Thursday, hitting $12.63. The company's stock had a trading volume of 951,484 shares, compared to its average volume of 1,183,392. Newmark Group, Inc. has a 12 month low of $9.65 and a 12 month high of $16.10. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 32.39 and a beta of 1.93. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.47 and a current ratio of 0.47. The business has a 50-day simple moving average of $11.49 and a 200-day simple moving average of $12.26.

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, topping analysts' consensus estimates of $0.19 by $0.02. The firm had revenue of $665.49 million for the quarter, compared to analyst estimates of $609.28 million. Newmark Group had a return on equity of 21.85% and a net margin of 2.39%. The business's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. On average, analysts anticipate that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Wednesday, May 14th. Newmark Group's payout ratio is 30.77%.

Analysts Set New Price Targets

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

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.