Newmark Group, Inc. (NASDAQ:NMRK) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management reduced its position in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 64.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,341 shares of the company's stock after selling 40,489 shares during the quarter. Ritholtz Wealth Management's holdings in Newmark Group were worth $272,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Asset Management One Co. Ltd. increased its holdings in Newmark Group by 32.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 16,473 shares of the company's stock worth $211,000 after acquiring an additional 4,019 shares in the last quarter. Rhumbline Advisers grew its position in shares of Newmark Group by 0.5% in the fourth quarter. Rhumbline Advisers now owns 237,015 shares of the company's stock valued at $3,036,000 after purchasing an additional 1,201 shares during the period. Principal Financial Group Inc. increased its stake in shares of Newmark Group by 44.9% during the fourth quarter. Principal Financial Group Inc. now owns 3,098,429 shares of the company's stock worth $39,691,000 after purchasing an additional 960,799 shares in the last quarter. Alberta Investment Management Corp raised its position in shares of Newmark Group by 15.8% during the 4th quarter. Alberta Investment Management Corp now owns 295,870 shares of the company's stock worth $3,790,000 after purchasing an additional 40,427 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Newmark Group by 8.9% in the 4th quarter. Handelsbanken Fonder AB now owns 50,017 shares of the company's stock valued at $641,000 after buying an additional 4,100 shares in the last quarter. 58.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on NMRK shares. Wolfe Research raised Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 target price for the company in a report on Friday, May 23rd. The Goldman Sachs Group reduced their price objective on Newmark Group from $19.50 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Wall Street Zen upgraded Newmark Group from a "hold" rating to a "buy" rating in a report on Saturday. Keefe, Bruyette & Woods dropped their target price on shares of Newmark Group from $14.50 to $14.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Piper Sandler reduced their target price on shares of Newmark Group from $19.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Newmark Group has a consensus rating of "Buy" and a consensus target price of $15.25.

Newmark Group Price Performance

Shares of NASDAQ:NMRK traded up $0.27 during midday trading on Tuesday, hitting $12.04. The company had a trading volume of 1,684,884 shares, compared to its average volume of 1,167,972. Newmark Group, Inc. has a twelve month low of $9.64 and a twelve month high of $16.10. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 30.87 and a beta of 1.94. 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 business's 50-day simple moving average is $11.12 and its 200-day simple moving average is $12.40.

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, topping the consensus estimate of $0.19 by $0.02. The business had revenue of $665.49 million for the quarter, compared to analyst estimates of $609.28 million. Newmark Group had a return on equity of 21.85% and a net margin of 2.39%. The company's quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 EPS. On average, research analysts predict that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th were paid a $0.03 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.12 annualized dividend and a dividend yield of 1.00%. Newmark Group's dividend payout ratio (DPR) 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.