Algert Global LLC Sells 161,752 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Algert Global LLC lowered its position in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 67.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,386 shares of the company's stock after selling 161,752 shares during the period. Algert Global LLC's holdings in Newmark Group were worth $979,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Newmark Group by 1,017.4% in the third quarter. Principal Financial Group Inc. now owns 2,137,630 shares of the company's stock worth $33,197,000 after acquiring an additional 1,946,322 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Newmark Group by 103.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,948,511 shares of the company's stock worth $37,770,000 after buying an additional 1,502,372 shares during the last quarter. Wells Fargo & Company MN lifted its position in Newmark Group by 851.7% during the 4th quarter. Wells Fargo & Company MN now owns 848,475 shares of the company's stock worth $10,869,000 after acquiring an additional 759,324 shares during the period. Raymond James Financial Inc. purchased a new position in Newmark Group in the 4th quarter valued at approximately $4,785,000. Finally, Norges Bank purchased a new stake in shares of Newmark Group in the fourth quarter valued at $3,307,000. Institutional investors own 58.42% of the company's stock.

Newmark Group Stock Performance

NASDAQ:NMRK traded down $0.02 during mid-day trading on Friday, hitting $11.62. The stock had a trading volume of 162,330 shares, compared to its average volume of 1,135,062. The company's 50 day simple moving average is $11.43 and its 200 day simple moving average is $13.20. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 33.16 and a beta of 1.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. Newmark Group, Inc. has a twelve month low of $9.64 and a twelve month high of $16.10.

Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $665.49 million for the quarter, compared to analysts' expectations of $609.28 million. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The business's revenue for the quarter was up 21.8% on a year-over-year basis. During the same period last year, the firm earned $0.15 earnings per share. On average, equities research 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 declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Wednesday, May 14th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.03%. The ex-dividend date is Wednesday, May 14th. Newmark Group's dividend payout ratio (DPR) is currently 30.77%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NMRK. Piper Sandler reduced their price objective 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. The Goldman Sachs Group cut their target price on Newmark Group from $19.50 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. Finally, Keefe, Bruyette & Woods cut their price objective on Newmark Group from $14.50 to $14.00 and set an "outperform" rating for the company in a report on Friday, May 2nd.

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.