Bank of New York Mellon Corp Sells 692,219 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Bank of New York Mellon Corp trimmed its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 39.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,072,981 shares of the company's stock after selling 692,219 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.59% of Newmark Group worth $13,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. World Investment Advisors bought a new position in shares of Newmark Group in the first quarter worth approximately $131,000. OneDigital Investment Advisors LLC grew its holdings in 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 acquiring an additional 1,121 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Newmark Group by 16.2% in the first quarter. Teacher Retirement System of Texas now owns 20,794 shares of the company's stock valued at $253,000 after acquiring an additional 2,898 shares during the period. KBC Group NV bought a new position in shares of Newmark Group during the first quarter valued at about $78,000. Finally, CWC Advisors LLC. boosted its holdings in shares of Newmark Group by 31.2% during the first quarter. CWC Advisors LLC. now owns 25,076 shares of the company's stock worth $305,000 after purchasing an additional 5,957 shares during the period. 58.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NMRK has been the subject of a number of recent analyst reports. Citizens Jmp initiated coverage on Newmark Group in a research report on Monday. They set a "strong-buy" rating and a $17.00 price target for the company. Wall Street Zen lowered Newmark Group from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods boosted their price objective on shares of Newmark Group from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Thursday. Piper Sandler decreased their price objective on shares of Newmark Group from $19.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, Wolfe Research raised shares of 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. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Newmark Group presently has an average rating of "Buy" and a consensus target price of $16.00.

Newmark Group Stock Up 1.4%

NASDAQ NMRK traded up $0.19 during trading hours on Thursday, reaching $13.46. 1,346,128 shares of the company's stock traded hands, compared to its average volume of 1,166,691. Newmark Group, Inc. has a 52-week low of $9.65 and a 52-week high of $16.10. 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 simple moving average of $11.78 and a 200 day simple moving average of $12.25. The firm has a market cap of $2.48 billion, a PE ratio of 34.51 and a beta of 1.93.

Newmark Group (NASDAQ:NMRK - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. Newmark Group had a return on equity of 21.85% and a net margin of 2.39%. The firm had revenue of $665.49 million for the quarter, compared to analysts' expectations of $609.28 million. During the same period in the previous year, the firm posted $0.15 EPS. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. Sell-side analysts anticipate that Newmark Group, Inc. will post 1.45 EPS 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 $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Wednesday, May 14th. Newmark Group's dividend payout ratio 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.