Jacobs Levy Equity Management Inc. Trims Stock Position in Newmark Group, Inc. (NASDAQ:NMRK)

Jacobs Levy Equity Management Inc. trimmed its holdings in Newmark Group, Inc. (NASDAQ:NMRK) by 27.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 544,053 shares of the company’s stock after selling 206,201 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.32% of Newmark Group worth $8,449,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of Newmark Group by 4.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 111,296 shares of the company’s stock valued at $1,235,000 after purchasing an additional 4,779 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in Newmark Group by 30.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 16,484 shares of the company’s stock worth $180,000 after purchasing an additional 3,843 shares during the last quarter. Diversified Trust Co raised its stake in Newmark Group by 4.6% during the second quarter. Diversified Trust Co now owns 24,329 shares of the company’s stock worth $249,000 after purchasing an additional 1,080 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Newmark Group by 251.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock valued at $7,246,000 after purchasing an additional 506,510 shares during the last quarter. Finally, Leeward Investments LLC MA grew its stake in shares of 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 period. 58.42% of the stock is owned by institutional investors and hedge funds.

Newmark Group Stock Up 1.5 %

Shares of NMRK opened at $15.42 on Friday. The company’s 50-day simple moving average is $15.13 and its 200-day simple moving average is $13.09. 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 1 year low of $8.28 and a 1 year high of $16.10. The stock has a market capitalization of $2.64 billion, a PE ratio of 51.40 and a beta of 1.96.

Newmark Group (NASDAQ:NMRK) last released its earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share 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 analyst estimates of $682.07 million. Newmark Group had a net margin of 2.00% and a return on equity of 18.95%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 earnings per share. Analysts forecast that Newmark Group, Inc. will post 1.15 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st were given a dividend of $0.03 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.78%. Newmark Group’s dividend payout ratio (DPR) is presently 40.00%.

Analysts Set New Price Targets

NMRK has been the subject of several recent analyst reports. Piper Sandler raised their target price on Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Wolfe Research cut shares of Newmark Group from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 25th. Finally, Keefe, Bruyette & Woods raised shares of Newmark Group from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $13.50 to $16.50 in a research note on Thursday, September 5th.

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.