Proficio Capital Partners LLC Takes Position in Newmark Group, Inc. (NASDAQ:NMRK)

Proficio Capital Partners LLC purchased a new position in shares of Newmark Group, Inc. (NASDAQ:NMRK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 21,367 shares of the company’s stock, valued at approximately $274,000.

Several other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. increased its position in Newmark Group by 43.5% during the 4th quarter. Assetmark Inc. now owns 8,585 shares of the company’s stock worth $110,000 after purchasing an additional 2,602 shares during the period. Highland Capital Management LLC acquired a new position in Newmark Group during the fourth quarter worth $135,000. Coldstream Capital Management Inc. acquired a new position in Newmark Group during the third quarter worth $181,000. ClearAlpha Technologies LP acquired a new stake in Newmark Group in the third quarter valued at $253,000. Finally, Asset Management One Co. Ltd. boosted its position in shares of Newmark Group by 32.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 16,473 shares of the company’s stock worth $211,000 after purchasing an additional 4,019 shares in the last quarter. 58.42% of the stock is owned by hedge funds and other institutional investors.

Newmark Group Stock Performance

Shares of NMRK stock opened at $12.62 on Thursday. The stock has a fifty day moving average price of $13.60 and a 200 day moving average price of $14.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market cap of $2.28 billion, a PE ratio of 36.06 and a beta of 1.96. Newmark Group, Inc. has a 1 year low of $9.44 and a 1 year high of $16.10.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings results on Friday, February 14th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.07. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The business had revenue of $888.30 million during the quarter, compared to the consensus estimate of $790.76 million. During the same quarter in the previous year, the company posted $0.46 EPS. The business’s revenue was up 18.9% on a year-over-year basis. Sell-side analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.03 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.12 annualized dividend and a dividend yield of 0.95%. Newmark Group’s dividend payout ratio is presently 34.29%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group reduced their price objective on shares of Newmark Group from $19.50 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th.

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.