River Road Asset Management LLC cut its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 13.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,484,589 shares of the company's stock after selling 553,597 shares during the quarter. River Road Asset Management LLC owned 2.02% of Newmark Group worth $38,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of the stock. American Century Companies Inc. lifted its stake in shares of Newmark Group by 410.2% in the 3rd quarter. American Century Companies Inc. now owns 1,672,287 shares of the company's stock valued at $10,753,000 after purchasing an additional 1,344,514 shares during the period. Norges Bank bought a new stake in shares of Newmark Group in the 4th quarter worth $10,548,000. Vanguard Group Inc. increased its holdings in shares of Newmark Group by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 26,213,288 shares of the company's stock worth $417,315,000 after purchasing an additional 1,309,242 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Newmark Group by 142.3% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,176,781 shares of the company's stock worth $34,654,000 after purchasing an additional 1,278,444 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Newmark Group by 361.9% in the 3rd quarter. New York State Common Retirement Fund now owns 1,106,494 shares of the company's stock worth $7,115,000 after purchasing an additional 866,924 shares in the last quarter. 58.42% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently commented on NMRK shares. Keefe, Bruyette & Woods lifted their price objective on Newmark Group from $11.00 to $11.25 and gave the stock a "market perform" rating in a report on Monday, February 26th. Piper Sandler reaffirmed an "overweight" rating and issued a $13.00 price objective on shares of Newmark Group in a report on Tuesday, March 26th.
Check Out Our Latest Analysis on NMRK
Newmark Group Price Performance
Shares of Newmark Group stock traded down $0.08 during trading hours on Wednesday, hitting $9.51. The company's stock had a trading volume of 656,766 shares, compared to its average volume of 1,054,066. The business has a 50 day moving average price of $10.67 and a two-hundred day moving average price of $9.17. Newmark Group, Inc. has a 12-month low of $5.07 and a 12-month high of $11.51. The company has a market cap of $1.64 billion, a PE ratio of 38.04 and a beta of 1.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 0.59.
Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Newmark Group had a return on equity of 17.03% and a net margin of 1.72%. The business had revenue of $747.70 million for the quarter, compared to the consensus estimate of $743.53 million. During the same period in the previous year, the business earned $0.32 earnings per share. Analysts expect that Newmark Group, Inc. will post 1.12 earnings per share for the current fiscal year.
Newmark Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.12 annualized dividend and a yield of 1.26%. Newmark Group's payout ratio is currently 48.00%.
Newmark Group Company Profile
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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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