Allspring Global Investments Holdings LLC Sells 80,236 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Allspring Global Investments Holdings LLC trimmed its holdings in Newmark Group, Inc. (NASDAQ:NMRK) by 66.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,299 shares of the company’s stock after selling 80,236 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Newmark Group were worth $516,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Oliver Luxxe Assets LLC lifted its position in shares of Newmark Group by 3.4% during the 4th quarter. Oliver Luxxe Assets LLC now owns 101,743 shares of the company’s stock valued at $1,303,000 after acquiring an additional 3,353 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Newmark Group by 6.7% in the third quarter. The Manufacturers Life Insurance Company now owns 76,602 shares of the company’s stock valued at $1,190,000 after buying an additional 4,834 shares during the period. Robertson Stephens Wealth Management LLC boosted its position in shares of Newmark Group by 1.7% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 319,185 shares of the company’s stock valued at $4,089,000 after purchasing an additional 5,186 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in shares of Newmark Group by 1.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 321,104 shares of the company’s stock valued at $4,987,000 after purchasing an additional 5,501 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Newmark Group by 15.0% during the 3rd quarter. Creative Planning now owns 45,308 shares of the company’s stock valued at $704,000 after purchasing an additional 5,915 shares in the last quarter. 58.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wolfe Research lowered Newmark Group from an “outperform” rating to a “peer perform” rating in a report on Monday, November 25th. The Goldman Sachs Group initiated coverage on Newmark Group in a research report on Friday, December 6th. They issued a “buy” rating and a $19.00 target price for the company.

Newmark Group Price Performance

NASDAQ:NMRK opened at $13.99 on Tuesday. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 39.97 and a beta of 1.99. Newmark Group, Inc. has a 52-week low of $9.44 and a 52-week high of $16.10. The stock has a fifty day moving average of $13.44 and a 200 day moving average of $14.24. 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 (NASDAQ:NMRK) last issued its quarterly earnings results on Friday, February 14th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.07. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The firm had revenue of $888.30 million during the quarter, compared to analyst estimates of $790.76 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s revenue was up 18.9% compared to the same quarter last year. On average, research analysts expect that Newmark Group, Inc. will post 1.45 EPS for the current fiscal year.

Newmark Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.03 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.12 annualized dividend and a dividend yield of 0.86%. Newmark Group’s dividend payout ratio is currently 34.29%.

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.