Public Employees Retirement Association of Colorado Lowers Holdings in Newmark Group, Inc. (NASDAQ:NMRK)

Public Employees Retirement Association of Colorado cut its holdings in Newmark Group, Inc. (NASDAQ:NMRK) by 12.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,705 shares of the company’s stock after selling 2,541 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Newmark Group were worth $181,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Newmark Group by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock worth $227,067,000 after purchasing an additional 702,233 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Newmark Group by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company’s stock worth $68,399,000 after purchasing an additional 480,047 shares in the last quarter. Paulson & CO. Inc. lifted its holdings in Newmark Group by 133.5% in the 4th quarter. Paulson & CO. Inc. now owns 3,000,000 shares of the company’s stock worth $32,880,000 after purchasing an additional 1,715,375 shares in the last quarter. Leeward Investments LLC MA lifted its holdings in Newmark Group by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 1,907,574 shares of the company’s stock worth $19,514,000 after purchasing an additional 101,426 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in Newmark Group by 4.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,311,813 shares of the company’s stock worth $14,377,000 after acquiring an additional 54,909 shares during the last quarter. 58.42% of the stock is owned by hedge funds and other institutional investors.

Newmark Group Stock Performance

NASDAQ:NMRK opened at $15.56 on Monday. The stock’s fifty day moving average is $13.52 and its 200 day moving average is $11.49. 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 $2.68 billion, a PE ratio of 70.73 and a beta of 2.01. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.49.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. Newmark Group had a return on equity of 17.78% and a net margin of 1.75%. The company had revenue of $633.40 million for the quarter, compared to analyst estimates of $630.27 million. During the same quarter in the prior year, the firm posted $0.18 EPS. Newmark Group’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Newmark Group, Inc. will post 1.15 earnings per share for the current year.

Newmark Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were paid a $0.03 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.12 dividend on an annualized basis and a yield of 0.77%. Newmark Group’s payout ratio is 54.55%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NMRK. Keefe, Bruyette & Woods raised Newmark Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $13.50 to $16.50 in a research note on Thursday, September 5th. Wolfe Research raised Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research note on Friday, August 16th. Finally, Piper Sandler lifted their price objective on Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd.

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.