Financial Management Professionals Inc. Makes New $26,000 Investment in Newmark Group, Inc. (NASDAQ:NMRK)

Financial Management Professionals Inc. bought a new position in shares of Newmark Group, Inc. (NASDAQ:NMRK) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,128 shares of the company’s stock, valued at approximately $26,000.

Other institutional investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its position in shares of Newmark Group by 103.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,948,511 shares of the company’s stock valued at $37,770,000 after buying an additional 1,502,372 shares during the last quarter. Millennium Management LLC grew its position in shares of Newmark Group by 138.5% in the 4th quarter. Millennium Management LLC now owns 1,916,186 shares of the company’s stock valued at $24,546,000 after buying an additional 1,112,610 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Newmark Group by 44.9% in the fourth quarter. Principal Financial Group Inc. now owns 3,098,429 shares of the company’s stock valued at $39,691,000 after acquiring an additional 960,799 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Newmark Group by 851.7% in the fourth quarter. Wells Fargo & Company MN now owns 848,475 shares of the company’s stock valued at $10,869,000 after acquiring an additional 759,324 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Newmark Group in the fourth quarter valued at approximately $5,277,000. Institutional investors own 58.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented 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 note on Friday, May 2nd. Piper Sandler cut their price target on shares of Newmark Group from $19.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Wolfe Research raised shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $14.00 price target on the stock in a research report on Friday, May 23rd. 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 report on Wednesday, March 19th.

Newmark Group Price Performance

Newmark Group stock opened at $11.26 on Thursday. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 32.17 and a beta of 1.94. Newmark Group, Inc. has a 52-week low of $9.64 and a 52-week high of $16.10. The stock’s 50 day moving average price is $11.00 and its two-hundred day moving average price is $12.79. 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 issued its earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. The business had revenue of $665.49 million for the quarter, compared to analyst estimates of $609.28 million. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. Newmark Group’s revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 earnings per share. On average, equities analysts predict that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Wednesday, May 14th were issued a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.12 annualized dividend and a yield of 1.07%. Newmark Group’s payout ratio is currently 30.77%.

Newmark Group Company 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.