Newmark Group, Inc. (NASDAQ:NMRK) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its position in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 82.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,171 shares of the company’s stock after selling 10,306 shares during the period. New York State Teachers Retirement System’s holdings in Newmark Group were worth $28,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Creative Planning increased its position in shares of Newmark Group by 15.0% during the third quarter. Creative Planning now owns 45,308 shares of the company’s stock valued at $704,000 after acquiring an additional 5,915 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Newmark Group by 408.2% during the 3rd quarter. Blue Trust Inc. now owns 9,401 shares of the company’s stock worth $146,000 after purchasing an additional 7,551 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Newmark Group by 104.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 120,535 shares of the company’s stock valued at $1,872,000 after purchasing an additional 61,563 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Newmark Group in the third quarter valued at approximately $221,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in Newmark Group by 249.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 16,484 shares of the company’s stock worth $254,000 after purchasing an additional 11,765 shares in the last quarter. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NMRK. The Goldman Sachs Group initiated coverage on Newmark Group in a research note on Friday, December 6th. They set a “buy” rating and a $19.00 target price on the stock. Wolfe Research lowered shares of Newmark Group from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 25th.

Newmark Group Price Performance

NMRK stock opened at $13.99 on Tuesday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $2.39 billion, a P/E ratio of 39.97 and a beta of 1.99. The business has a 50 day simple moving average of $13.44 and a 200-day simple moving average of $14.24. Newmark Group, Inc. has a twelve month low of $9.44 and a twelve month high of $16.10.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings results on Friday, February 14th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The company had revenue of $888.30 million during the quarter, compared to the consensus estimate of $790.76 million. During the same period last year, the firm earned $0.46 EPS. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, equities analysts anticipate that Newmark Group, Inc. will post 1.45 EPS for the current year.

Newmark Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, March 3rd. Newmark Group’s dividend payout ratio (DPR) is presently 34.29%.

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.