Assetmark Inc. Grows Position in Newmark Group, Inc. (NASDAQ:NMRK)

Assetmark Inc. increased its position in Newmark Group, Inc. (NASDAQ:NMRK) by 43.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,585 shares of the company’s stock after purchasing an additional 2,602 shares during the quarter. Assetmark Inc.’s holdings in Newmark Group were worth $110,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Newmark Group by 5.7% in the 3rd 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 during the period. State Street Corp raised its stake in Newmark Group by 7.8% during the third quarter. State Street Corp now owns 3,426,682 shares of the company’s stock valued at $53,216,000 after buying an additional 247,433 shares during the last quarter. Principal Financial Group Inc. raised its stake in Newmark Group by 44.9% during the fourth quarter. Principal Financial Group Inc. now owns 3,098,429 shares of the company’s stock valued at $39,691,000 after buying an additional 960,799 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Newmark Group by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,152,232 shares of the company’s stock valued at $33,424,000 after buying an additional 85,728 shares during the last quarter. Finally, Systematic Financial Management LP raised its stake in Newmark Group by 53.1% during the third quarter. Systematic Financial Management LP now owns 1,421,985 shares of the company’s stock valued at $22,083,000 after buying an additional 493,050 shares during the last quarter. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Newmark Group Trading Up 4.7 %

Shares of NMRK stock opened at $12.40 on Friday. Newmark Group, Inc. has a 1 year low of $9.44 and a 1 year high of $16.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42. The stock’s 50 day simple moving average is $13.56 and its two-hundred day simple moving average is $14.28. The company has a market cap of $2.24 billion, a PE ratio of 35.43 and a beta of 1.96.

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

Newmark Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.03 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.12 annualized dividend and a yield of 0.97%. Newmark Group’s dividend payout ratio (DPR) is currently 34.29%.

Analyst Upgrades and Downgrades

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

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.