Blue Trust Inc. Boosts Stake in Newmark Group, Inc. (NASDAQ:NMRK)

Blue Trust Inc. lifted its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 408.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,401 shares of the company’s stock after purchasing an additional 7,551 shares during the period. Blue Trust Inc.’s holdings in Newmark Group were worth $146,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted 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 purchasing an additional 506,510 shares during the period. Systematic Financial Management LP lifted its position in Newmark Group by 11.9% during the 2nd quarter. Systematic Financial Management LP now owns 928,935 shares of the company’s stock valued at $9,503,000 after acquiring an additional 98,532 shares during the period. Algert Global LLC lifted its position in Newmark Group by 89.5% during the 2nd quarter. Algert Global LLC now owns 144,978 shares of the company’s stock valued at $1,483,000 after acquiring an additional 68,468 shares during the period. Miller Howard Investments Inc. NY lifted its position in Newmark Group by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 35,091 shares of the company’s stock valued at $359,000 after acquiring an additional 823 shares during the period. Finally, AdvisorShares Investments LLC purchased a new position in Newmark Group during the 2nd quarter valued at about $462,000. Institutional investors own 58.42% of the company’s stock.

Analyst Ratings Changes

NMRK has been the subject of a number of recent research reports. Keefe, Bruyette & Woods raised shares of Newmark Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $13.50 to $16.50 in a research report on Thursday, September 5th. Piper Sandler lifted their price target on shares of Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a research 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 Down 1.8 %

Shares of Newmark Group stock opened at $15.12 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a market capitalization of $2.61 billion, a PE ratio of 68.73 and a beta of 2.01. Newmark Group, Inc. has a 52-week low of $5.25 and a 52-week high of $16.10. The company has a 50-day simple moving average of $14.58 and a two-hundred day simple moving average of $12.06.

Newmark Group (NASDAQ:NMRK) last issued its earnings results 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 business had revenue of $633.40 million during the quarter, compared to analysts’ expectations of $630.27 million. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share. On average, analysts anticipate that Newmark Group, Inc. will post 1.15 EPS for the current fiscal year.

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were paid a $0.03 dividend. The ex-dividend date of this dividend 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 is presently 54.55%.

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.