Newmark Group, Inc. (NASDAQ:NMRK) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp raised its holdings in Newmark Group, Inc. (NASDAQ:NMRK) by 21.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,389 shares of the company’s stock after acquiring an additional 2,153 shares during the period. Mackenzie Financial Corp’s holdings in Newmark Group were worth $127,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NMRK. Paulson & CO. Inc. raised its holdings in Newmark Group by 133.5% in the 4th quarter. Paulson & CO. Inc. now owns 3,000,000 shares of the company’s stock valued at $32,880,000 after acquiring an additional 1,715,375 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Newmark Group by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock worth $227,067,000 after buying an additional 702,233 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Newmark Group by 1,595.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 713,621 shares of the company’s stock worth $7,914,000 after buying an additional 671,521 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Newmark Group by 251.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock worth $7,246,000 after buying an additional 506,510 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Newmark Group by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company’s stock valued at $68,399,000 after acquiring an additional 480,047 shares during the last quarter. 58.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on NMRK. Keefe, Bruyette & Woods upgraded shares of Newmark Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from $13.50 to $16.50 in a report on Thursday, September 5th. Piper Sandler lifted their target price on shares of Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Finally, Wolfe Research raised shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price target for the company in a research report on Friday, August 16th.

Newmark Group Stock Performance

Newmark Group stock opened at $14.65 on Tuesday. The stock’s 50 day moving average price is $13.89 and its 200 day moving average price is $11.68. The firm has a market capitalization of $2.53 billion, a PE ratio of 66.59 and a beta of 2.01. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.49. Newmark Group, Inc. has a one year low of $5.09 and a one year high of $16.10.

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

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, August 16th. Newmark Group’s payout ratio is 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.