KLP Kapitalforvaltning AS Purchases New Holdings in Newmark Group, Inc. (NASDAQ:NMRK)

KLP Kapitalforvaltning AS acquired a new position in shares of Newmark Group, Inc. (NASDAQ:NMRK) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 29,805 shares of the company’s stock, valued at approximately $382,000.

Other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in shares of Newmark Group by 6.7% during the third quarter. The Manufacturers Life Insurance Company now owns 76,602 shares of the company’s stock worth $1,190,000 after buying an additional 4,834 shares in the last quarter. Captrust Financial Advisors bought a new position in Newmark Group during the 3rd quarter valued at $835,000. State Street Corp grew its holdings in Newmark Group by 7.8% during the 3rd quarter. State Street Corp now owns 3,426,682 shares of the company’s stock worth $53,216,000 after acquiring an additional 247,433 shares in the last quarter. Jane Street Group LLC increased its position in shares of Newmark Group by 8.4% in the 3rd quarter. Jane Street Group LLC now owns 140,001 shares of the company’s stock worth $2,174,000 after purchasing an additional 10,796 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Newmark Group in the 3rd quarter valued at about $390,000. 58.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group decreased their price target on Newmark Group from $19.50 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th.

Newmark Group Stock Performance

Newmark Group stock opened at $10.71 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42. Newmark Group, Inc. has a 12 month low of $9.44 and a 12 month high of $16.10. The company has a fifty day moving average price of $13.36 and a two-hundred day moving average price of $14.09. The company has a market cap of $1.93 billion, a PE ratio of 30.60 and a beta of 1.69.

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

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Monday, March 3rd. Newmark Group’s payout ratio is 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.