Oliver Luxxe Assets LLC bought a new position in shares of Newmark Group, Inc. (NASDAQ:NMRK – Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 98,390 shares of the company’s stock, valued at approximately $1,528,000. Oliver Luxxe Assets LLC owned 0.06% of Newmark Group at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Newmark Group by 3.6% during the first quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock worth $227,067,000 after acquiring an additional 702,233 shares during the period. Dimensional Fund Advisors LP grew its holdings in Newmark Group by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company’s stock valued at $68,399,000 after buying an additional 480,047 shares in the last quarter. Leeward Investments LLC MA lifted its holdings in shares of Newmark Group by 5.6% during the second quarter. Leeward Investments LLC MA now owns 1,907,574 shares of the company’s stock worth $19,514,000 after buying an additional 101,426 shares in the last quarter. Systematic Financial Management LP lifted its holdings in shares of Newmark Group by 11.9% during the second quarter. Systematic Financial Management LP now owns 928,935 shares of the company’s stock worth $9,503,000 after buying an additional 98,532 shares in the last quarter. Finally, Foundry Partners LLC boosted its position in shares of Newmark Group by 5.3% in the second quarter. Foundry Partners LLC now owns 840,576 shares of the company’s stock valued at $8,599,000 after acquiring an additional 42,314 shares during the period. 58.42% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have weighed in on NMRK. Keefe, Bruyette & Woods upgraded shares of Newmark Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $13.50 to $16.50 in a research note on Thursday, September 5th. Wolfe Research upgraded Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research note on Friday, August 16th. Finally, Piper Sandler upped their target price on Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd.
Newmark Group Stock Performance
Shares of Newmark Group stock opened at $14.84 on Tuesday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49. The company has a market cap of $2.56 billion, a PE ratio of 67.45 and a beta of 2.01. The company has a 50 day moving average of $14.11 and a 200-day moving average of $11.81. Newmark Group, Inc. has a 1-year low of $5.09 and a 1-year high of $16.10.
Newmark Group (NASDAQ:NMRK – Get Free Report) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Newmark Group had a return on equity of 17.78% and a net margin of 1.75%. The company had revenue of $633.40 million during the quarter, compared to analysts’ expectations of $630.27 million. During the same quarter in the previous year, the firm earned $0.18 EPS. Newmark Group’s revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts forecast that Newmark Group, Inc. will post 1.15 earnings per share for the current fiscal year.
Newmark Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.12 dividend on an annualized basis and a yield of 0.81%. Newmark Group’s dividend payout ratio is currently 54.55%.
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.
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