Millennium Management LLC Purchases 1,112,610 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Millennium Management LLC grew its position in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 138.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,916,186 shares of the company's stock after acquiring an additional 1,112,610 shares during the period. Millennium Management LLC owned 1.12% of Newmark Group worth $24,546,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in NMRK. Barclays PLC lifted its position in Newmark Group by 352.8% in the 3rd quarter. Barclays PLC now owns 227,099 shares of the company's stock valued at $3,526,000 after acquiring an additional 176,947 shares in the last quarter. Ritholtz Wealth Management bought a new position in shares of Newmark Group during the 4th quarter worth approximately $805,000. SG Americas Securities LLC lifted its position in shares of Newmark Group by 540.5% during the 4th quarter. SG Americas Securities LLC now owns 46,289 shares of the company's stock worth $593,000 after buying an additional 39,062 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Newmark Group by 134.3% during the 4th quarter. Blue Trust Inc. now owns 22,031 shares of the company's stock worth $282,000 after buying an additional 12,630 shares in the last quarter. Finally, Highland Capital Management LLC bought a new position in shares of Newmark Group during the 4th quarter worth approximately $135,000. 58.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Newmark Group from $14.50 to $14.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. The Goldman Sachs Group lowered their price target 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. Wolfe Research raised shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price target on the stock in a report on Friday. Finally, Piper Sandler lowered their price target 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.

Newmark Group Price Performance

Shares of Newmark Group stock traded up $0.02 during trading on Friday, hitting $10.48. The stock had a trading volume of 1,066,399 shares, compared to its average volume of 1,140,987. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 29.94 and a beta of 1.99. Newmark Group, Inc. has a 12 month low of $9.64 and a 12 month high of $16.10. The business's 50-day moving average is $11.25 and its 200 day moving average is $13.01. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $665.49 million for the quarter, compared to analysts' expectations of $609.28 million. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The business's quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. As a group, sell-side analysts anticipate that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Wednesday, May 14th will be given a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.12 annualized dividend and a yield of 1.15%. Newmark Group's dividend payout ratio (DPR) is presently 30.77%.

Newmark Group 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.