Oppenheimer Asset Management Inc. Has $191,000 Stake in Newmark Group, Inc. (NASDAQ:NMRK)

Oppenheimer Asset Management Inc. decreased its stake in Newmark Group, Inc. (NASDAQ:NMRK) by 15.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,291 shares of the company’s stock after selling 2,235 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Newmark Group were worth $191,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Miller Howard Investments Inc. NY grew its holdings in Newmark Group by 2.4% during the second quarter. Miller Howard Investments Inc. NY now owns 35,091 shares of the company’s stock valued at $359,000 after purchasing an additional 823 shares during the period. Diversified Trust Co raised its holdings in Newmark Group by 4.6% in the 2nd quarter. Diversified Trust Co now owns 24,329 shares of the company’s stock valued at $249,000 after acquiring an additional 1,080 shares in the last quarter. Creative Planning grew its holdings in Newmark Group by 3.0% during the 2nd quarter. Creative Planning now owns 39,393 shares of the company’s stock worth $403,000 after acquiring an additional 1,131 shares during the last quarter. EntryPoint Capital LLC lifted its position in shares of Newmark Group by 35.5% in the 1st quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock worth $49,000 after purchasing an additional 1,159 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of Newmark Group by 6.1% during the 2nd quarter. Hsbc Holdings PLC now owns 24,870 shares of the company’s stock worth $253,000 after purchasing an additional 1,420 shares in the last quarter. Institutional investors and hedge funds own 58.42% of the company’s stock.

Newmark Group Price Performance

NMRK opened at $14.74 on Thursday. The firm has a 50-day moving average of $15.09 and a 200 day moving average of $12.71. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. Newmark Group, Inc. has a fifty-two week low of $7.71 and a fifty-two week high of $16.10. The firm has a market cap of $2.52 billion, a P/E ratio of 50.57 and a beta of 2.01.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $685.90 million during the quarter, compared to analyst estimates of $682.07 million. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company earned $0.27 earnings per share. On average, research analysts expect that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a $0.03 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.81%. Newmark Group’s dividend payout ratio is presently 40.00%.

Wall Street Analysts Forecast Growth

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

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.