Allspring Global Investments Holdings LLC Has $752,000 Stock Position in Newmark Group, Inc. (NASDAQ:NMRK)

Allspring Global Investments Holdings LLC grew its stake in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 54.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Tranquility Partners LLC raised its position in Newmark Group by 3.6% in the 1st quarter. Tranquility Partners LLC now owns 138,992 shares of the company's stock worth $1,692,000 after purchasing an additional 4,840 shares during the last quarter. Berry Wealth Group LP bought a new stake in shares of Newmark Group during the 1st quarter valued at $127,000. Asset Management One Co. Ltd. lifted its stake in shares of Newmark Group by 53.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 25,291 shares of the company's stock valued at $308,000 after purchasing an additional 8,818 shares during the period. Robertson Stephens Wealth Management LLC boosted its position in shares of Newmark Group by 1.6% in the 1st quarter. Robertson Stephens Wealth Management LLC now owns 324,208 shares of the company's stock worth $3,946,000 after purchasing an additional 5,023 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Newmark Group during the first quarter worth $916,000. 58.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Newmark Group Stock Down 0.6%

NASDAQ:NMRK traded down $0.07 on Friday, hitting $12.56. 921,691 shares of the company's stock were exchanged, compared to its average volume of 1,184,952. Newmark Group, Inc. has a 52 week low of $9.65 and a 52 week high of $16.10. The company has a market cap of $2.32 billion, a P/E ratio of 32.21 and a beta of 1.93. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a 50-day moving average price of $11.55 and a 200-day moving average price of $12.26.

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

Newmark Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Wednesday, May 14th. Newmark Group's payout ratio 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.