AQR Capital Management LLC Sells 3,690 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

AQR Capital Management LLC cut its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 23.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,242 shares of the company’s stock after selling 3,690 shares during the quarter. AQR Capital Management LLC’s holdings in Newmark Group were worth $125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NMRK. Cubist Systematic Strategies LLC grew its holdings in Newmark Group by 153.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 599,351 shares of the company’s stock worth $6,131,000 after acquiring an additional 363,032 shares during the last quarter. Evergreen Capital Management LLC bought a new stake in Newmark Group during the 2nd quarter worth approximately $107,000. Hsbc Holdings PLC grew its holdings in 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 acquiring an additional 1,420 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Newmark Group by 78.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,818 shares of the company’s stock worth $203,000 after acquiring an additional 8,729 shares during the last quarter. Finally, Denali Advisors LLC grew its holdings in Newmark Group by 39.2% during the 2nd quarter. Denali Advisors LLC now owns 653,829 shares of the company’s stock worth $6,689,000 after acquiring an additional 184,100 shares during the last quarter. 58.42% of the stock is owned by institutional investors.

Newmark Group Stock Down 0.3 %

NMRK opened at $14.85 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.49 and a quick ratio of 0.49. The company’s 50-day moving average is $14.35 and its 200 day moving average is $11.91. Newmark Group, Inc. has a fifty-two week low of $5.09 and a fifty-two week high of $16.10. The firm has a market capitalization of $2.56 billion, a P/E ratio of 67.50 and a beta of 2.01.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The business had revenue of $633.40 million during the quarter, compared to the consensus estimate of $630.27 million. During the same quarter last year, the company posted $0.18 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Research analysts expect that Newmark Group, Inc. will post 1.15 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.81%. Newmark Group’s dividend payout ratio (DPR) is currently 54.55%.

Wall Street Analyst Weigh In

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

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.