JPMorgan Chase & Co. Purchases 143,251 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

JPMorgan Chase & Co. raised its position in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 13.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,223,807 shares of the company’s stock after purchasing an additional 143,251 shares during the period. JPMorgan Chase & Co. owned approximately 0.72% of Newmark Group worth $19,006,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NMRK. Assetmark Inc. bought a new position in shares of Newmark Group in the 3rd quarter valued at $93,000. Black Diamond Financial LLC acquired a new stake in Newmark Group in the second quarter valued at about $102,000. Evergreen Capital Management LLC bought a new position in Newmark Group in the second quarter valued at about $107,000. SG Americas Securities LLC acquired a new position in Newmark Group during the third quarter worth about $112,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Newmark Group by 21.0% in the second quarter. Mackenzie Financial Corp now owns 12,389 shares of the company’s stock worth $127,000 after acquiring an additional 2,153 shares during the last quarter. 58.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NMRK shares. Wolfe Research lowered shares of Newmark Group from an “outperform” rating to a “peer perform” rating in a report on Monday, November 25th. The Goldman Sachs Group started coverage on shares of Newmark Group in a research note on Friday, December 6th. They set a “buy” rating and a $19.00 target price on the stock.

Newmark Group Stock Performance

NASDAQ:NMRK opened at $12.40 on Friday. The stock’s 50-day moving average is $14.37 and its 200-day moving average is $13.66. The stock has a market cap of $2.12 billion, a P/E ratio of 41.33 and a beta of 1.99. Newmark Group, Inc. has a 1-year low of $9.22 and a 1-year high of $16.10. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52.

Newmark Group (NASDAQ:NMRK) last posted its earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $685.90 million for the quarter, compared to analyst estimates of $682.07 million. Newmark Group had a net margin of 2.00% and a return on equity of 18.95%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 EPS. Equities research analysts anticipate that Newmark Group, Inc. will post 1.15 earnings per share for the current year.

Newmark Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Thursday, November 21st. Newmark Group’s payout ratio is presently 40.00%.

Newmark Group 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.