American Century Companies Inc. Decreases Stake in Newmark Group, Inc. (NASDAQ:NMRK)

American Century Companies Inc. lessened its holdings in Newmark Group, Inc. (NASDAQ:NMRK) by 16.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,570,463 shares of the company’s stock after selling 317,491 shares during the period. American Century Companies Inc. owned approximately 0.91% of Newmark Group worth $16,066,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Riverview Trust Co purchased a new position in Newmark Group in the first quarter valued at about $29,000. Fifth Third Bancorp purchased a new stake in Newmark Group in the 2nd quarter worth about $33,000. EntryPoint Capital LLC raised its stake in Newmark Group by 35.5% in the 1st quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock valued at $49,000 after acquiring an additional 1,159 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in Newmark Group during the fourth quarter valued at about $119,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Newmark Group during the first quarter worth about $135,000. 58.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Newmark Group Price Performance

Shares of NASDAQ:NMRK opened at $15.22 on Friday. Newmark Group, Inc. has a 12 month low of $5.09 and a 12 month high of $15.49. 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 stock has a market cap of $2.63 billion, a P/E ratio of 69.18 and a beta of 2.01. The company has a 50 day moving average of $13.15 and a 200 day moving average of $11.31.

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 analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $633.40 million for the quarter, compared to the consensus estimate of $630.27 million. Newmark Group had a return on equity of 17.78% and a net margin of 1.75%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. As a group, sell-side analysts forecast that Newmark Group, Inc. will post 1.15 EPS for the current fiscal year.

Newmark Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.79%. Newmark Group’s dividend payout ratio (DPR) is presently 54.55%.

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.