Jacobs Levy Equity Management Inc. Sells 110,723 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Jacobs Levy Equity Management Inc. lowered its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 20.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 433,330 shares of the company's stock after selling 110,723 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.25% of Newmark Group worth $5,551,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Sterling Capital Management LLC increased its holdings in 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 buying an additional 3,695 shares during the last quarter. Assetmark Inc. grew its position in shares of Newmark Group by 43.5% during the 4th quarter. Assetmark Inc. now owns 8,585 shares of the company's stock valued at $110,000 after acquiring an additional 2,602 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Newmark Group by 48.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company's stock valued at $120,000 after acquiring an additional 3,070 shares during the period. Optimize Financial Inc purchased a new stake in shares of Newmark Group in the 4th quarter worth $132,000. Finally, Highland Capital Management LLC bought a new position in Newmark Group in the 4th quarter worth $135,000. Institutional investors own 58.42% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on NMRK shares. 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. Piper Sandler lowered their price objective on Newmark Group from $19.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. 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 research note on Friday, May 2nd.

Newmark Group Price Performance

Newmark Group stock traded up $0.07 during mid-day trading on Monday, hitting $11.65. The stock had a trading volume of 154,082 shares, compared to its average volume of 1,128,161. Newmark Group, Inc. has a one year low of $9.64 and a one year high of $16.10. 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 firm has a market capitalization of $2.15 billion, a P/E ratio of 33.19 and a beta of 1.99. The firm's 50 day moving average is $11.41 and its 200 day moving average is $13.15.

Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The business had revenue of $665.49 million for the quarter, compared to the consensus estimate of $609.28 million. During the same period in the previous year, the business earned $0.15 earnings per share. The business's revenue was up 21.8% on a year-over-year basis. On average, sell-side analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The firm 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. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.12 annualized dividend and a yield of 1.03%. Newmark Group's payout ratio is 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.