New York State Common Retirement Fund Increases Stock Holdings in Newmark Group, Inc. (NASDAQ:NMRK)

New York State Common Retirement Fund increased its position in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 11.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 941,377 shares of the company’s stock after purchasing an additional 99,609 shares during the period. New York State Common Retirement Fund’s holdings in Newmark Group were worth $11,457,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NMRK. Xponance Inc. purchased a new stake in Newmark Group in the first quarter valued at $122,000. Envestnet Asset Management Inc. increased its position in shares of Newmark Group by 23.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 58,984 shares of the company’s stock worth $718,000 after purchasing an additional 11,262 shares during the last quarter. World Investment Advisors purchased a new stake in Newmark Group in the 1st quarter valued at about $131,000. OneDigital Investment Advisors LLC lifted its position in Newmark Group by 10.4% in the first quarter. OneDigital Investment Advisors LLC now owns 11,878 shares of the company’s stock valued at $145,000 after buying an additional 1,121 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Newmark Group by 16.2% during the first quarter. Teacher Retirement System of Texas now owns 20,794 shares of the company’s stock worth $253,000 after buying an additional 2,898 shares during the period. 58.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NMRK has been the topic of a number of research analyst reports. Wolfe Research raised Newmark Group from a “peer perform” rating to an “outperform” rating and set a $14.00 target price on the stock in a research report on Friday, May 23rd. Piper Sandler cut their price objective on Newmark Group from $19.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Keefe, Bruyette & Woods decreased 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, Wall Street Zen downgraded Newmark Group from a “buy” rating to a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.25.

Newmark Group Price Performance

Shares of NASDAQ NMRK opened at $12.31 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.50. The stock has a market cap of $2.27 billion, a P/E ratio of 31.56 and a beta of 1.93. The stock has a 50 day moving average of $11.65 and a two-hundred day moving average of $12.24. Newmark Group, Inc. has a twelve month low of $9.65 and a twelve month high of $16.10.

Newmark Group (NASDAQ:NMRK) last announced its earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. Newmark Group had a return on equity of 21.85% and a net margin of 2.39%. The company had revenue of $665.49 million for the quarter, compared to the consensus estimate of $609.28 million. During the same period last year, the business posted $0.15 EPS. The company’s revenue was up 21.8% on a year-over-year basis. On average, research analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Wednesday, May 14th were issued a dividend of $0.03 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.12 annualized dividend and a yield of 0.97%. Newmark Group’s dividend payout ratio (DPR) is currently 30.77%.

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.