Raymond James & Associates Reduces Stock Holdings in Newmark Group, Inc. (NASDAQ:NMRK)

Raymond James & Associates cut its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 17.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 491,405 shares of the company's stock after selling 103,978 shares during the period. Raymond James & Associates owned about 0.28% of Newmark Group worth $5,386,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NMRK. Mesirow Financial Investment Management Inc. bought a new position in shares of Newmark Group in the 4th quarter worth $392,000. American Century Companies Inc. increased its holdings in Newmark Group by 410.2% in the 3rd quarter. American Century Companies Inc. now owns 1,672,287 shares of the company's stock worth $10,753,000 after acquiring an additional 1,344,514 shares during the last quarter. Deutsche Bank AG boosted its holdings in Newmark Group by 3.6% in the 3rd quarter. Deutsche Bank AG now owns 65,782 shares of the company's stock worth $423,000 after buying an additional 2,293 shares during the period. Graham Capital Management L.P. purchased a new position in Newmark Group during the 3rd quarter valued at about $96,000. Finally, Mercer Global Advisors Inc. ADV increased its holdings in shares of Newmark Group by 45.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 41,846 shares of the company's stock worth $269,000 after purchasing an additional 13,143 shares during the period. Institutional investors and hedge funds own 58.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NMRK shares. Keefe, Bruyette & Woods increased their price objective on Newmark Group from $11.00 to $11.25 and gave the company a "market perform" rating in a research report on Monday, February 26th. Piper Sandler reiterated an "overweight" rating and issued a $13.00 price objective on shares of Newmark Group in a research report on Tuesday, March 26th.

Newmark Group Stock Down 4.9 %

NMRK traded down $0.54 during trading on Wednesday, reaching $10.51. The stock had a trading volume of 922,165 shares, compared to its average volume of 1,070,814. The stock's 50 day moving average is $10.68 and its two-hundred day moving average is $9.03. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 42.04 and a beta of 1.97. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35. Newmark Group, Inc. has a one year low of $5.07 and a one year high of $11.51.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The firm had revenue of $747.70 million during the quarter, compared to analyst estimates of $743.53 million. Newmark Group had a net margin of 1.72% and a return on equity of 17.03%. During the same period last year, the business earned $0.32 earnings per share. As a group, analysts expect that Newmark Group, Inc. will post 1.12 earnings per share for the current year.

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.12 annualized dividend and a dividend yield of 1.14%. Newmark Group's payout ratio is presently 48.00%.

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.