Proficio Capital Partners LLC Takes Position in Newmark Group, Inc. (NASDAQ:NMRK)

Proficio Capital Partners LLC purchased a new stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 21,367 shares of the company’s stock, valued at approximately $274,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Newmark Group by 5.7% during the third quarter. Geode Capital Management LLC now owns 3,554,867 shares of the company’s stock valued at $55,216,000 after purchasing an additional 190,974 shares in the last quarter. Algert Global LLC lifted its holdings in shares of Newmark Group by 64.3% during the third quarter. Algert Global LLC now owns 238,138 shares of the company’s stock valued at $3,698,000 after purchasing an additional 93,160 shares in the last quarter. JPMorgan Chase & Co. increased its position in Newmark Group by 13.3% during the third quarter. JPMorgan Chase & Co. now owns 1,223,807 shares of the company’s stock valued at $19,006,000 after acquiring an additional 143,251 shares during the last quarter. Barclays PLC increased its position in Newmark Group by 352.8% during the third quarter. Barclays PLC now owns 227,099 shares of the company’s stock valued at $3,526,000 after acquiring an additional 176,947 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new stake in Newmark Group during the third quarter valued at $835,000. 58.42% of the stock is owned by institutional investors.

Newmark Group Stock Performance

Shares of NMRK opened at $12.51 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $13.59 and a two-hundred day simple moving average of $14.32. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 35.74 and a beta of 1.96. Newmark Group, Inc. has a 52 week low of $9.44 and a 52 week high of $16.10.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Friday, February 14th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. The business had revenue of $888.30 million during the quarter, compared to analysts’ expectations of $790.76 million. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 earnings per share. On average, analysts expect that Newmark Group, Inc. will post 1.45 EPS for the current year.

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Monday, March 3rd. Newmark Group’s payout ratio is 34.29%.

Analyst Upgrades and Downgrades

NMRK has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on Newmark Group in a research report on Friday, December 6th. They set a “buy” rating and a $19.00 price objective for the company. Wolfe Research cut Newmark Group from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 25th.

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.