Charles Schwab Investment Management Inc. Acquires 85,728 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Charles Schwab Investment Management Inc. lifted its position in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 4.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,152,232 shares of the company’s stock after purchasing an additional 85,728 shares during the period. Charles Schwab Investment Management Inc. owned about 1.25% of Newmark Group worth $33,424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Miller Howard Investments Inc. NY grew its holdings in shares of Newmark Group by 2.4% during the second quarter. Miller Howard Investments Inc. NY now owns 35,091 shares of the company’s stock worth $359,000 after purchasing an additional 823 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Newmark Group by 4.6% during the second quarter. Diversified Trust Co now owns 24,329 shares of the company’s stock worth $249,000 after purchasing an additional 1,080 shares during the last quarter. Creative Planning grew its holdings in shares of Newmark Group by 3.0% during the second quarter. Creative Planning now owns 39,393 shares of the company’s stock worth $403,000 after purchasing an additional 1,131 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Newmark Group by 6.1% during the second quarter. Hsbc Holdings PLC now owns 24,870 shares of the company’s stock worth $253,000 after purchasing an additional 1,420 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Newmark Group by 21.0% during the second quarter. Mackenzie Financial Corp now owns 12,389 shares of the company’s stock worth $127,000 after purchasing an additional 2,153 shares during the last quarter. 58.42% of the stock is currently owned by institutional investors.

Newmark Group Price Performance

Newmark Group stock opened at $15.30 on Wednesday. The stock’s 50 day moving average is $15.15 and its 200 day moving average is $13.06. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market cap of $2.62 billion, a P/E ratio of 51.00 and a beta of 1.96. Newmark Group, Inc. has a one year low of $8.28 and a one year high of $16.10.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. The firm had revenue of $685.90 million for the quarter, compared to analyst estimates of $682.07 million. During the same period in the previous year, the firm earned $0.27 earnings per share. The company’s revenue was up 11.3% compared to the same quarter last year. As a group, research analysts expect that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, November 21st. Newmark Group’s dividend payout ratio (DPR) is presently 40.00%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Piper Sandler lifted their price objective on Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods raised Newmark Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $13.50 to $16.50 in a research note on Thursday, September 5th. Finally, Wolfe Research lowered Newmark Group from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 25th.

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.