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

Allspring Global Investments Holdings LLC lifted its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 54.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,072 shares of the company's stock after acquiring an additional 21,773 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Newmark Group were worth $752,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in NMRK. Proficio Capital Partners LLC purchased a new stake in shares of Newmark Group during the 4th quarter valued at about $274,000. Victory Capital Management Inc. grew its position in Newmark Group by 14.3% in the fourth quarter. Victory Capital Management Inc. now owns 121,315 shares of the company's stock valued at $1,554,000 after acquiring an additional 15,177 shares in the last quarter. Assetmark Inc. raised its stake in shares of Newmark Group by 43.5% during the fourth 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. Raymond James Financial Inc. purchased a new stake in shares of Newmark Group during the fourth quarter valued at approximately $4,785,000. Finally, Cibc World Markets Corp acquired a new position in shares of Newmark Group during the fourth quarter worth $158,000. 58.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group dropped their price target on shares of Newmark Group from $19.50 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Wolfe Research raised Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 target price on the stock in a research report on Friday, May 23rd. Wall Street Zen upgraded Newmark Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Piper Sandler lowered their price objective on Newmark Group from $19.00 to $16.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, 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 report on Friday, May 2nd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Newmark Group presently has a consensus rating of "Buy" and an average target price of $15.25.

Newmark Group Stock Performance

Shares of Newmark Group stock opened at $12.38 on Thursday. The firm has a market cap of $2.28 billion, a PE ratio of 31.74 and a beta of 1.93. Newmark Group, Inc. has a 1 year low of $9.65 and a 1 year high of $16.10. The firm's 50-day simple moving average is $11.46 and its 200-day simple moving average is $12.26. 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 (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The business 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 revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.15 EPS. Equities analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Wednesday, May 14th. Newmark Group's payout ratio is 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.

Want to see what other hedge funds are holding NMRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmark Group, Inc. (NASDAQ:NMRK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.