AQR Capital Management LLC Cuts Stake in Newmark Group, Inc. (NASDAQ:NMRK)

AQR Capital Management LLC trimmed its position in Newmark Group, Inc. (NASDAQ:NMRK) by 23.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,242 shares of the company’s stock after selling 3,690 shares during the period. AQR Capital Management LLC’s holdings in Newmark Group were worth $125,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Riverview Trust Co bought a new stake in shares of Newmark Group during the first quarter valued at approximately $29,000. Fifth Third Bancorp purchased a new position in shares of Newmark Group during the 2nd quarter valued at $33,000. EntryPoint Capital LLC grew its holdings in shares of Newmark Group by 35.5% during the 1st quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock valued at $49,000 after acquiring an additional 1,159 shares in the last quarter. Black Diamond Financial LLC purchased a new position in shares of Newmark Group during the 2nd quarter valued at $102,000. Finally, Evergreen Capital Management LLC purchased a new position in shares of Newmark Group during the 2nd quarter valued at $107,000. 58.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NMRK shares. Wolfe Research upgraded shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a report on Friday, August 16th. Keefe, Bruyette & Woods raised shares of Newmark Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $13.50 to $16.50 in a research report on Thursday, September 5th. Finally, Piper Sandler upped their target price on shares of Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd.

Newmark Group Trading Down 0.3 %

Shares of NASDAQ NMRK opened at $14.85 on Friday. The company’s 50 day simple moving average is $14.35 and its 200 day simple moving average is $11.91. Newmark Group, Inc. has a fifty-two week low of $5.09 and a fifty-two week high of $16.10. The firm has a market capitalization of $2.56 billion, a P/E ratio of 67.50 and a beta of 2.01. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.49 and a quick ratio of 0.49.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The business had revenue of $633.40 million for the quarter, compared to analyst estimates of $630.27 million. During the same period last year, the business posted $0.18 earnings per share. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts predict that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend was Friday, August 16th. Newmark Group’s dividend payout ratio (DPR) is currently 54.55%.

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.