Victory Capital Management Inc. Has $1.01 Million Position in Newmark Group, Inc. (NASDAQ:NMRK)

Victory Capital Management Inc. increased its holdings in Newmark Group, Inc. (NASDAQ:NMRK) by 68.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,133 shares of the company’s stock after purchasing an additional 40,174 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Newmark Group worth $1,014,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Newmark Group by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock valued at $227,067,000 after buying an additional 702,233 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Newmark Group by 10.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,220,485 shares of the company’s stock valued at $68,178,000 after purchasing an additional 570,935 shares in the last quarter. Paulson & CO. Inc. grew its holdings in shares of Newmark Group by 133.5% in the 4th quarter. Paulson & CO. Inc. now owns 3,000,000 shares of the company’s stock worth $32,880,000 after purchasing an additional 1,715,375 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Newmark Group by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,969,167 shares of the company’s stock worth $21,582,000 after purchasing an additional 81,209 shares in the last quarter. Finally, Leeward Investments LLC MA lifted its holdings in Newmark Group by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 1,907,574 shares of the company’s stock valued at $19,514,000 after purchasing an additional 101,426 shares during the last quarter. Institutional investors own 58.42% of the company’s stock.

Newmark Group Stock Performance

Shares of Newmark Group stock opened at $15.22 on Friday. The stock’s fifty day simple moving average is $13.15 and its 200 day simple moving average is $11.31. 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 company has a market capitalization of $2.63 billion, a PE ratio of 69.18 and a beta of 2.01. Newmark Group, Inc. has a 12 month low of $5.09 and a 12 month high of $15.49.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. The company had revenue of $633.40 million during the quarter, compared to the consensus estimate of $630.27 million. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, research analysts predict 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 was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were given a dividend of $0.03 per share. The ex-dividend date was Friday, August 16th. This represents a $0.12 annualized dividend and a yield of 0.79%. Newmark Group’s dividend payout ratio (DPR) is presently 54.55%.

Wall Street Analysts Forecast Growth

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

About Newmark Group

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.