Northern Trust Corp Purchases 21,586 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Northern Trust Corp increased its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,474,824 shares of the company's stock after purchasing an additional 21,586 shares during the period. Northern Trust Corp owned approximately 0.86% of Newmark Group worth $18,892,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Sterling Capital Management LLC raised its holdings in shares of Newmark Group by 813.9% during the fourth quarter. Sterling Capital Management LLC now owns 4,149 shares of the company's stock valued at $53,000 after purchasing an additional 3,695 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Newmark Group by 43.5% during the fourth quarter. Assetmark Inc. now owns 8,585 shares of the company's stock valued at $110,000 after purchasing an additional 2,602 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Newmark Group by 48.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company's stock valued at $120,000 after purchasing an additional 3,070 shares during the last quarter. Optimize Financial Inc purchased a new position in shares of Newmark Group during the fourth quarter valued at approximately $132,000. Finally, Highland Capital Management LLC purchased a new position in shares of Newmark Group during the fourth quarter valued at approximately $135,000. 58.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of Newmark Group from $19.50 to $17.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Keefe, Bruyette & Woods reduced 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 report on Monday, May 5th.

Newmark Group Stock Performance

NMRK stock traded up $0.01 during midday trading on Monday, reaching $11.59. 752,619 shares of the company's stock traded hands, compared to its average volume of 1,130,472. Newmark Group, Inc. has a 52-week low of $9.64 and a 52-week high of $16.10. The stock has a market cap of $2.14 billion, a P/E ratio of 33.12 and a beta of 1.99. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The stock's 50-day moving average is $11.39 and its 200 day moving average is $13.13.

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 for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. The business had revenue of $665.49 million during the quarter, compared to analyst estimates of $609.28 million. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The company's revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 earnings per share. As a group, analysts anticipate that Newmark Group, Inc. will post 1.45 EPS for the current year.

Newmark Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Wednesday, May 14th will be given a $0.03 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.04%. Newmark Group's payout ratio is currently 30.77%.

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.