Ritholtz Wealth Management Lowers Stake in Newmark Group, Inc. (NASDAQ:NMRK)

Ritholtz Wealth Management reduced its stake in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 64.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Assenagon Asset Management S.A. purchased a new position in shares of Newmark Group in the 1st quarter valued at approximately $916,000. SG Americas Securities LLC grew its stake in shares of Newmark Group by 822.8% in the 1st quarter. SG Americas Securities LLC now owns 427,144 shares of the company's stock valued at $5,198,000 after purchasing an additional 380,855 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in shares of Newmark Group in the 1st quarter valued at approximately $26,000. GAMMA Investing LLC boosted its stake in shares of Newmark Group by 1,510.9% in the first quarter. GAMMA Investing LLC now owns 16,576 shares of the company's stock valued at $202,000 after buying an additional 15,547 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Newmark Group by 4.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 32,806 shares of the company's stock valued at $420,000 after buying an additional 1,286 shares in the last quarter. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

Newmark Group Price Performance

NMRK traded down $0.10 during trading on Friday, reaching $11.16. 2,402,216 shares of the stock were exchanged, compared to its average volume of 1,163,965. The business's 50 day moving average price is $11.09 and its two-hundred day moving average price is $12.43. 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 company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 8.52 and a beta of 1.94. Newmark Group, Inc. has a 1 year low of $9.64 and a 1 year high of $16.10.

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 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 company had revenue of $665.49 million during the quarter, compared to analysts' expectations of $609.28 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Wednesday, May 14th were paid a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.12 annualized dividend and a yield of 1.08%. Newmark Group's payout ratio is currently 30.77%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NMRK shares. The Goldman Sachs Group decreased their price target 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. Piper Sandler decreased their price target on Newmark Group from $19.00 to $16.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Keefe, Bruyette & Woods decreased their price target 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. Wall Street Zen upgraded Newmark Group from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, 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 research note on Friday, May 23rd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Newmark Group currently has a consensus rating of "Buy" and a consensus target price of $15.25.

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.