Newmark Group, Inc. (NASDAQ:NMRK) Shares Sold by CM Management LLC

Key Points

• CM Management LLC has reduced its holdings in Newmark Group, Inc. by 8.3%, now owning approximately 275,000 shares, making it the 9th largest holding in their portfolio.
• A number of institutional investors increased their stakes in Newmark Group, with OneDigital Investment Advisors raising their holdings by 10.4% in the first quarter of the year.
• Newmark Group recently declared a quarterly dividend of $0.03 per share, translating to an annualized yield of 0.8% and a payout ratio of 28.57%.

CM Management LLC lessened its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 8.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 275,000 shares of the company's stock after selling 25,000 shares during the quarter. Newmark Group comprises approximately 3.3% of CM Management LLC's holdings, making the stock its 9th largest position. CM Management LLC owned approximately 0.15% of Newmark Group worth $3,347,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. LPL Financial LLC acquired a new stake in shares of Newmark Group during the fourth quarter worth $184,000. JPMorgan Chase & Co. raised its position in shares of Newmark Group by 13.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,388,913 shares of the company's stock worth $17,792,000 after purchasing an additional 165,106 shares during the period. Norges Bank acquired a new stake in shares of Newmark Group during the fourth quarter worth $3,307,000. Pictet Asset Management Holding SA raised its position in shares of Newmark Group by 36.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 21,161 shares of the company's stock worth $271,000 after purchasing an additional 5,682 shares during the period. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Newmark Group during the fourth quarter worth $2,189,000. Institutional investors own 58.42% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NMRK shares. Wall Street Zen raised Newmark Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Citizens Jmp began coverage on Newmark Group in a research report on Monday, July 21st. They set a "strong-buy" rating and a $17.00 target price on the stock. Wolfe Research upgraded 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, May 23rd. JMP Securities lifted their price target on Newmark Group from $17.00 to $19.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods lifted their price target on Newmark Group from $14.00 to $15.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Newmark Group currently has a consensus rating of "Buy" and a consensus price target of $16.83.

Newmark Group Stock Up 2.3%

Shares of NMRK stock traded up $0.36 on Friday, reaching $16.24. 1,233,984 shares of the company's stock traded hands, compared to its average volume of 1,584,966. The business's 50 day moving average price is $12.70 and its two-hundred day moving average price is $12.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.47 and a current ratio of 0.47. Newmark Group, Inc. has a 12-month low of $9.65 and a 12-month high of $16.30. The company has a market capitalization of $3.00 billion, a P/E ratio of 38.67 and a beta of 2.04.

Newmark Group (NASDAQ:NMRK - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.05. Newmark Group had a return on equity of 22.71% and a net margin of 2.51%. The firm had revenue of $759.10 million for the quarter, compared to the consensus estimate of $695.24 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The business's quarterly revenue was up 19.9% compared to the same quarter last year. On average, equities analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 14th. Newmark Group's dividend payout ratio is 28.57%.

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.