The New York State Common Retirement Fund increased its position in shares of Newmark Group, Inc. (NASDAQ: NMRK – Get Rating) by 4.6% during the first quarter, according to its latest disclosure to the Securities and Exchange Commission. The institutional investor held 776,982 shares of the company after purchasing an additional 34,281 shares during the quarter. The New York State Common Retirement Fund held about 0.41% of the Newmark Group worth $12,370,000 when it last filed with the SEC.
Other hedge funds have also recently changed their positions in the business. Point72 Hong Kong Ltd increased its stake in Newmark Group shares by 912.5% during the fourth quarter. Point72 Hong Kong Ltd now owns 2,025 shares in the company valued at $38,000 after buying an additional 1,825 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Newmark Group during the fourth quarter valued at approximately $41,000. Robeco Institutional Asset Management BV acquired a new equity stake in Newmark Group during the first quarter, valued at approximately $38,000. CM Bidwell & Associates Ltd. acquired a new stake in shares of Newmark Group during the fourth quarter valued at approximately $78,000. Finally, SG Americas Securities LLC increased its stake in Newmark Group shares by 31.1% during the first quarter. SG Americas Securities LLC now owns 7,561 shares of the company valued at $120,000 after purchasing an additional 1,793 shares last quarter. 58.17% of the shares are held by institutional investors and hedge funds.
Analysts set new price targets
A number of brokerages have recently released reports on NMRK. Piper Sandler lowered her price target on Newmark Group to $11.00 in a Monday, July 4 research report. Raymond James lowered his price target on Newmark Group from $21.00 to $18.00 and set an “outperform” rating for the company in a Tuesday, April 26 research report. Three equity research analysts gave the stock a hold rating and one issued a buy rating for the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.00.
Insiders place their bets
Separately, Chairman Howard W. Lutnick acquired 277,000 shares of the company in a transaction dated Monday, May 23. The shares were purchased at an average price of $10.83 per share, for a total transaction of $2,999,910.00. Following the completion of the acquisition, the President now directly owns 8,019,434 shares of the company, valued at approximately $86,850,470.22. The purchase was disclosed in a filing with the SEC, which is available on the SEC’s website. Separately, Chairman Howard W. Lutnick acquired 329,000 shares of the company in a transaction dated Tuesday, June 14. The shares were purchased at an average price of $9.11 per share, for a total transaction of $2,997,190.00. Following the completion of the acquisition, the President now directly owns 8,348,434 shares of the company, valued at approximately $76,054,233.74. The purchase was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, Chairman Howard W. Lutnick acquired 277,000 shares of the company in a transaction dated Monday, May 23. The shares were purchased at an average price of $10.83 per share, with a total value of $2,999,910.00. Following the acquisition, the president now owns 8,019,434 shares of the company, valued at $86,850,470.22. Disclosure of this purchase can be found here. 27.10% of the shares are currently held by company insiders.
Newmark Group trading up 2.0%
NMRK shares opened at $10.70 on Friday. The company has a market capitalization of $2.02 billion, a P/E ratio of 6.56 and a beta of 1.77. The stock has a 50-day simple moving average of $10.25 and a 200-day simple moving average of $13.06. The company has a debt ratio of 0.35, a quick ratio of 0.73 and a current ratio of 0.73. Newmark Group, Inc. has a fifty-two week low of $8.66 and a fifty-two week high of $19.10.
Newmark Group (NASDAQ:NMRK – Get Rating) last released its results on Friday, July 29. The company reported earnings per share of $0.46 for the quarter, beating analyst consensus estimates of $0.36 by $0.10. The company posted revenue of $755.40 million in the quarter, versus a consensus estimate of $670.04 million. Newmark Group had a return on equity of 29.54% and a net margin of 10.19%. The company’s revenue for the quarter increased 19.9% year over year. During the same period a year earlier, the company posted earnings per share of $0.31. Research analysts expect Newmark Group, Inc. to post 1.8 earnings per share for the current year.
Newmark Group announces dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 31. Shareholders of record on Monday, August 15 will receive a dividend of $0.03. The ex-dividend date is Friday, August 12. This represents a dividend of $0.12 on an annualized basis and a yield of 1.12%. Newmark Group’s payout ratio is currently 7.36%.
Newmark Group Profile
(Get a rating)
Newmark Group, Inc provides commercial real estate services in the United States and internationally. The Company’s services and products for investors/owners include capital markets, such as investment, debt and structured finance, and loan sales; agency leasing, property management, appraisal and consulting; and commercial real estate due diligence consulting and advisory services, as well as government-sponsored business lending, loan servicing, mortgage brokerage and fundraising services.
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