Vanguard Group Inc. Decreases Stock Holdings in Newmark Group, Inc. (NASDAQ:NMRK)

Vanguard Group Inc. lowered its stake in Newmark Group, Inc. (NASDAQ:NMRK) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,772,699 shares of the company’s stock after selling 528,602 shares during the quarter. Vanguard Group Inc. owned 11.45% of Newmark Group worth $216,709,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Newmark Group during the 4th quarter valued at about $119,000. AXQ Capital LP purchased a new stake in Newmark Group during the third quarter valued at approximately $76,000. New York State Teachers Retirement System bought a new position in Newmark Group in the fourth quarter worth approximately $135,000. Warwick Investment Management Inc. purchased a new position in shares of Newmark Group during the 4th quarter worth $138,000. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Newmark Group by 76.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 12,641 shares of the company’s stock valued at $138,000 after acquiring an additional 5,480 shares during the period. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

Newmark Group Stock Down 3.8 %

Shares of NMRK stock opened at $9.84 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.56 and a quick ratio of 0.56. Newmark Group, Inc. has a one year low of $5.09 and a one year high of $11.51. The company’s fifty day moving average price is $10.14 and its 200-day moving average price is $10.34. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 44.73 and a beta of 2.03.

Newmark Group (NASDAQ:NMRK) last released its earnings results on Friday, May 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Newmark Group had a return on equity of 17.03% and a net margin of 1.47%. The business had revenue of $546.50 million for the quarter, compared to analysts’ expectations of $526.07 million. During the same quarter in the prior year, the business posted $0.15 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Newmark Group, Inc. will post 1.12 EPS for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, May 16th. Newmark Group’s payout ratio is 54.55%.

Analysts Set New Price Targets

Separately, Piper Sandler reiterated an “overweight” rating and set a $13.00 target price on shares of Newmark Group in a research report on Tuesday, March 26th.

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.