Hsbc Holdings PLC Sells 3,310 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Hsbc Holdings PLC reduced its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 12.9% during the 4th quarter, HoldingsChannel reports. The fund owned 22,268 shares of the company’s stock after selling 3,310 shares during the period. Hsbc Holdings PLC’s holdings in Newmark Group were worth $285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC increased its position in shares of Newmark Group by 813.9% during the 4th quarter. Sterling Capital Management LLC now owns 4,149 shares of the company’s stock valued at $53,000 after purchasing an additional 3,695 shares during the last quarter. Assetmark Inc. boosted 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 buying an additional 2,602 shares during the period. Tower Research Capital LLC TRC increased its position in Newmark Group by 48.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company’s stock valued at $120,000 after acquiring an additional 3,070 shares during the last quarter. Optimize Financial Inc purchased a new stake in shares of Newmark Group in the fourth quarter valued at $132,000. Finally, Highland Capital Management LLC bought a new stake in shares of Newmark Group in the 4th quarter worth about $135,000. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

Newmark Group Price Performance

Shares of NMRK stock opened at $11.23 on Friday. The company’s 50-day simple moving average is $11.55 and its two-hundred day simple moving average is $13.29. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42. Newmark Group, Inc. has a one year low of $9.64 and a one year high of $16.10. The company has a market capitalization of $2.03 billion, a P/E ratio of 32.09 and a beta of 1.99.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. 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. Newmark Group’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, equities analysts anticipate that Newmark Group, Inc. will post 1.45 EPS for the current year.

Newmark Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Wednesday, May 14th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, May 14th. Newmark Group’s payout ratio is 30.77%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Newmark Group from $14.50 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. The Goldman Sachs Group reduced their price target on Newmark Group from $19.50 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Finally, Piper Sandler dropped their price objective on Newmark Group from $19.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, May 5th.

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.