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

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

Several other large investors also recently modified their holdings of the stock. Barclays PLC grew its position in shares of Newmark Group by 0.3% during the 4th quarter. Barclays PLC now owns 227,866 shares of the company's stock worth $2,919,000 after buying an additional 767 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Newmark Group by 1.3% in the 4th quarter. MetLife Investment Management LLC now owns 79,900 shares of the company's stock worth $1,024,000 after purchasing an additional 1,035 shares in the last quarter. OneDigital Investment Advisors LLC lifted its holdings in shares of Newmark Group by 10.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 11,878 shares of the company's stock worth $145,000 after purchasing an additional 1,121 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Newmark Group by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 32,806 shares of the company's stock worth $420,000 after purchasing an additional 1,286 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Newmark Group by 2.7% in the 4th quarter. Cetera Investment Advisers now owns 53,635 shares of the company's stock worth $687,000 after purchasing an additional 1,385 shares in the last quarter. Institutional investors and hedge funds own 58.42% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded Newmark Group from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Keefe, Bruyette & Woods cut their target price on Newmark Group from $14.50 to $14.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Piper Sandler cut their target price on Newmark Group from $19.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Wolfe Research upgraded Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 target price on the stock in a report on Friday, May 23rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $15.25.

Newmark Group Stock Down 0.6%

NASDAQ:NMRK traded down $0.08 during trading hours on Friday, hitting $12.31. 961,135 shares of the company traded hands, compared to its average volume of 1,177,399. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.50. The firm's 50-day simple moving average is $11.65 and its 200-day simple moving average is $12.24. Newmark Group, Inc. has a one year low of $9.65 and a one year high of $16.10. The company has a market cap of $2.27 billion, a PE ratio of 31.56 and a beta of 1.93.

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. Newmark Group had a return on equity of 21.85% and a net margin of 2.39%. The business had revenue of $665.49 million for the quarter, compared to analysts' expectations of $609.28 million. During the same period last year, the business earned $0.15 EPS. The business's revenue was up 21.8% on a year-over-year basis. Equities analysts predict that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Dividend Announcement

The firm 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 0.97%. The ex-dividend date 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.