Newmark Group, Inc. (NASDAQ:NMRK) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC trimmed its position in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 3.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,520 shares of the company’s stock after selling 1,174 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Newmark Group were worth $490,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NMRK. CWC Advisors LLC. acquired a new position in Newmark Group during the 3rd quarter worth about $301,000. Sequoia Financial Advisors LLC purchased a new stake in Newmark Group during the third quarter worth about $221,000. Allspring Global Investments Holdings LLC increased its stake in Newmark Group by 104.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 120,535 shares of the company’s stock worth $1,872,000 after purchasing an additional 61,563 shares during the period. Blue Trust Inc. lifted its position in shares of Newmark Group by 408.2% during the third quarter. Blue Trust Inc. now owns 9,401 shares of the company’s stock worth $146,000 after purchasing an additional 7,551 shares in the last quarter. Finally, Harbour Capital Advisors LLC purchased a new position in shares of Newmark Group in the third quarter valued at approximately $348,000. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

Newmark Group Stock Performance

NASDAQ:NMRK opened at $15.56 on Friday. The firm has a market capitalization of $2.67 billion, a PE ratio of 51.87 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. The business’s fifty day moving average price is $14.91 and its 200 day moving average price is $12.40. Newmark Group, Inc. has a 12 month low of $6.64 and a 12 month high of $16.10.

Newmark Group (NASDAQ:NMRK) last posted its earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. Newmark Group had a return on equity of 18.73% and a net margin of 2.00%. The firm had revenue of $685.90 million during the quarter, compared to analysts’ expectations of $682.07 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. The firm’s revenue was up 11.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Newmark Group, Inc. will post 1.14 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be given a $0.03 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.77%. Newmark Group’s dividend payout ratio (DPR) is presently 40.00%.

Analyst Upgrades and Downgrades

NMRK has been the topic of several recent research reports. Wolfe Research raised shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 target price on the stock in a research note on Friday, August 16th. Piper Sandler lifted their target price on Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods raised Newmark Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $13.50 to $16.50 in a research report on Thursday, September 5th.

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.