Edgestream Partners L.P. Buys 115,586 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Edgestream Partners L.P. grew its holdings in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 135.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,069 shares of the company's stock after purchasing an additional 115,586 shares during the period. Edgestream Partners L.P. owned approximately 0.11% of Newmark Group worth $2,447,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NMRK. OneDigital Investment Advisors LLC grew its position in Newmark Group by 10.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 11,878 shares of the company's stock valued at $145,000 after acquiring an additional 1,121 shares in the last quarter. KBC Group NV acquired a new position in Newmark Group in the 1st quarter valued at approximately $78,000. Allspring Global Investments Holdings LLC raised its stake in shares of Newmark Group by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 62,072 shares of the company's stock valued at $752,000 after purchasing an additional 21,773 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Newmark Group by 2.3% during the fourth 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 period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Newmark Group during the first quarter valued at about $916,000. Hedge funds and other institutional investors own 58.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Citizens Jmp started coverage on shares of Newmark Group in a report on Monday. They issued a "mkt outperform" rating and a $17.00 price target on the stock. Wall Street Zen lowered shares of Newmark Group from a "buy" rating to a "hold" rating in a report on Friday. Piper Sandler dropped their price target 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. Wolfe Research upgraded Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price objective for the company in a research report on Friday, May 23rd. Finally, JMP Securities began coverage on Newmark Group in a research report on Monday. They set a "market outperform" rating and a $17.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $15.83.

Newmark Group Stock Up 3.6%

NMRK stock traded up $0.44 during midday trading on Monday, hitting $12.75. The company's stock had a trading volume of 2,264,150 shares, compared to its average volume of 1,183,812. Newmark Group, Inc. has a 12 month low of $9.65 and a 12 month 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. The company has a market cap of $2.35 billion, a PE ratio of 32.69 and a beta of 1.93. The firm's 50-day moving average is $11.67 and its 200-day moving average is $12.23.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its earnings results 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. 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 the consensus estimate of $609.28 million. During the same quarter last year, the firm earned $0.15 EPS. The firm's revenue for the quarter was up 21.8% on a year-over-year basis. On average, equities research analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th were issued a $0.03 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.94%. Newmark Group's dividend payout ratio (DPR) is presently 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.