Point72 Asset Management L.P. purchased a new position in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 75,988 shares of the company's stock, valued at approximately $973,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in NMRK. Nuveen Asset Management LLC boosted its stake in Newmark Group by 0.7% during the 4th quarter. Nuveen Asset Management LLC now owns 1,488,470 shares of the company's stock valued at $19,067,000 after purchasing an additional 10,872 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in Newmark Group during the 4th quarter valued at $181,000. Millennium Management LLC boosted its stake in Newmark Group by 138.5% during the 4th quarter. Millennium Management LLC now owns 1,916,186 shares of the company's stock valued at $24,546,000 after purchasing an additional 1,112,610 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Newmark Group by 2.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,900 shares of the company's stock valued at $959,000 after purchasing an additional 1,653 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in Newmark Group by 72.1% during the 4th quarter. Lazard Asset Management LLC now owns 36,964 shares of the company's stock valued at $472,000 after purchasing an additional 15,480 shares during the last quarter. Hedge funds and other institutional investors own 58.42% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have commented on the company. The Goldman Sachs Group cut their target price on Newmark Group from $19.50 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. 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 research note on Friday, May 2nd. Wolfe Research raised 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 Newmark Group from $19.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, May 5th.
Check Out Our Latest Research Report on NMRK
Newmark Group Stock Performance
Shares of NASDAQ NMRK traded up $0.34 during midday trading on Tuesday, hitting $10.82. 116,598 shares of the stock traded hands, compared to its average volume of 1,136,943. The firm has a 50-day moving average of $11.21 and a two-hundred day moving average of $12.97. The firm has a market capitalization of $2.00 billion, a P/E ratio of 30.87 and a beta of 1.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. Newmark Group, Inc. has a one year low of $9.64 and a one year high of $16.10.
Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. The business had revenue of $665.49 million for the quarter, compared to analysts' expectations of $609.28 million. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The business's quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the firm earned $0.15 earnings per share. On average, equities analysts forecast that Newmark Group, Inc. will post 1.45 EPS for the current fiscal year.
Newmark Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, May 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.11%. Newmark Group's payout ratio is 30.77%.
Newmark Group Profile
(
Free Report)
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.
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