State of Wyoming Raises Position in Newmark Group, Inc. (NASDAQ:NMRK)

State of Wyoming lifted its holdings in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 634.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,479 shares of the company's stock after buying an additional 24,602 shares during the quarter. State of Wyoming's holdings in Newmark Group were worth $365,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NMRK. Vanguard Group Inc. raised its holdings in Newmark Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 21,114,662 shares of the company's stock worth $270,479,000 after purchasing an additional 83,094 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Newmark Group by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,374,705 shares of the company's stock worth $81,660,000 after purchasing an additional 88,618 shares during the last quarter. Principal Financial Group Inc. raised its holdings in 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 during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Newmark Group by 103.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,948,511 shares of the company's stock worth $37,770,000 after purchasing an additional 1,502,372 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Newmark Group by 138.5% during the fourth quarter. Millennium Management LLC now owns 1,916,186 shares of the company's stock worth $24,546,000 after purchasing an additional 1,112,610 shares during the last quarter. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

Newmark Group Trading Up 3.2%

NMRK stock traded up $0.34 during trading on Tuesday, reaching $10.82. 116,598 shares of the stock traded hands, compared to its average volume of 1,136,943. The business's 50 day moving average price is $11.21 and its 200-day moving average price is $12.97. Newmark Group, Inc. has a 52-week low of $9.64 and a 52-week high of $16.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $2.00 billion, a PE ratio of 30.87 and a beta of 1.99.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The firm had revenue of $665.49 million during the quarter, compared to the consensus estimate of $609.28 million. During the same quarter in the previous year, the business earned $0.15 earnings per share. The firm's quarterly revenue was up 21.8% compared to the same quarter last year. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Wednesday, May 14th. Newmark Group's payout ratio is 30.77%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Piper Sandler reduced their price objective on Newmark Group from $19.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Keefe, Bruyette & Woods cut their price target on Newmark Group from $14.50 to $14.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. The Goldman Sachs Group cut their price target on Newmark Group from $19.50 to $17.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Finally, Wolfe Research raised Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price target for the company in a report on Friday.

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.