Meeder Asset Management Inc. Makes New Investment in Newmark Group, Inc. (NASDAQ:NMRK)

Meeder Asset Management Inc. acquired a new stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) in the third quarter, HoldingsChannel.com reports. The firm acquired 13,116 shares of the company’s stock, valued at approximately $204,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NMRK. Vanguard Group Inc. lifted its holdings in Newmark Group by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock valued at $227,067,000 after purchasing an additional 702,233 shares during the last quarter. Dimensional Fund Advisors LP raised its position 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 worth $68,399,000 after purchasing an additional 480,047 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Newmark Group by 1,017.4% during the 3rd quarter. Principal Financial Group Inc. now owns 2,137,630 shares of the company’s stock worth $33,197,000 after buying an additional 1,946,322 shares in the last quarter. Leeward Investments LLC MA boosted its position in Newmark Group by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 1,907,574 shares of the company’s stock valued at $19,514,000 after buying an additional 101,426 shares during the last quarter. Finally, Systematic Financial Management LP boosted its position in Newmark Group by 11.9% in the 2nd quarter. Systematic Financial Management LP now owns 928,935 shares of the company’s stock valued at $9,503,000 after buying an additional 98,532 shares during the last quarter. Institutional investors and hedge funds own 58.42% of the company’s stock.

Wall Street Analysts Forecast Growth

NMRK has been the topic of several research reports. Wolfe Research raised Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a research note on Friday, August 16th. Piper Sandler upped their target price on shares of Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods upgraded shares of Newmark Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $13.50 to $16.50 in a research report on Thursday, September 5th.

Newmark Group Stock Down 1.2 %

NASDAQ:NMRK opened at $15.17 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. Newmark Group, Inc. has a 12-month low of $7.63 and a 12-month high of $16.10. The stock’s fifty day simple moving average is $15.08 and its 200-day simple moving average is $12.68. The firm has a market capitalization of $2.60 billion, a P/E ratio of 51.00 and a beta of 2.01.

Newmark Group (NASDAQ:NMRK) last issued its earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $685.90 million for the quarter, compared to analysts’ expectations of $682.07 million. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.27 earnings per share. Equities research analysts expect that Newmark Group, Inc. will post 1.15 earnings per share for the current year.

Newmark Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Thursday, November 21st. Newmark Group’s dividend payout ratio is currently 40.00%.

About Newmark Group

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.