Ethic Inc. Sells 938 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Ethic Inc. reduced its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,491 shares of the company’s stock after selling 938 shares during the quarter. Ethic Inc.’s holdings in Newmark Group were worth $173,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in Newmark Group by 352.8% during the third quarter. Barclays PLC now owns 227,099 shares of the company’s stock worth $3,526,000 after acquiring an additional 176,947 shares during the last quarter. Assetmark Inc. increased its stake in Newmark Group by 43.5% during the fourth quarter. Assetmark Inc. now owns 8,585 shares of the company’s stock worth $110,000 after acquiring an additional 2,602 shares during the last quarter. Vanguard Group Inc. increased its stake in Newmark Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 21,114,662 shares of the company’s stock worth $270,479,000 after acquiring an additional 83,094 shares during the last quarter. SG Americas Securities LLC increased its stake in Newmark Group by 540.5% during the fourth quarter. SG Americas Securities LLC now owns 46,289 shares of the company’s stock worth $593,000 after acquiring an additional 39,062 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in Newmark Group by 32.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 16,473 shares of the company’s stock worth $211,000 after acquiring an additional 4,019 shares during the last quarter. 58.42% of the stock is owned by institutional investors.

Newmark Group Trading Down 0.4%

NMRK opened at $11.58 on Monday. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 33.09 and a beta of 1.99. The stock’s 50 day moving average price is $11.41 and its 200-day moving average price is $13.15. Newmark Group, Inc. has a one year low of $9.64 and a one year high of $16.10. 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 (NASDAQ:NMRK) last released its earnings results on Wednesday, April 30th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $665.49 million for the quarter, compared to analysts’ expectations of $609.28 million. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The company’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. On average, equities analysts forecast that Newmark Group, Inc. will post 1.45 EPS for the current year.

Newmark Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Wednesday, May 14th will be issued a $0.03 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.04%. Newmark Group’s payout ratio is 30.77%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NMRK. Piper Sandler reduced their price objective on Newmark Group from $19.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Keefe, Bruyette & Woods cut their target price on Newmark Group from $14.50 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group cut their target price on Newmark Group from $19.50 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th.

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.