Rhumbline Advisers Buys 4,888 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Rhumbline Advisers raised its stake in Newmark Group, Inc. (NASDAQ:NMRK) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 247,351 shares of the company’s stock after acquiring an additional 4,888 shares during the period. Rhumbline Advisers owned about 0.14% of Newmark Group worth $2,530,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Versor Investments LP bought a new stake in Newmark Group in the second quarter valued at $330,000. Panagora Asset Management Inc. grew its position in Newmark Group by 6.5% in the second quarter. Panagora Asset Management Inc. now owns 322,928 shares of the company’s stock valued at $3,304,000 after acquiring an additional 19,742 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Newmark Group by 25.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,463 shares of the company’s stock worth $363,000 after purchasing an additional 7,252 shares during the last quarter. 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. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Newmark Group by 62.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 58,972 shares of the company’s stock valued at $603,000 after acquiring an additional 22,574 shares during the period. 58.42% of the stock is currently owned by institutional investors.

Newmark Group Stock Performance

NASDAQ:NMRK opened at $14.93 on Thursday. Newmark Group, Inc. has a 1-year low of $5.09 and a 1-year high of $15.33. The business’s 50-day moving average price is $12.99 and its two-hundred day moving average price is $11.25. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 67.86 and a beta of 2.01.

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

Newmark Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.80%. The ex-dividend date was Friday, August 16th. Newmark Group’s payout ratio is 54.55%.

Analysts Set New Price Targets

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