Newmark Group, Inc. (NASDAQ:NMRK) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 25.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,181 shares of the company’s stock after selling 6,206 shares during the period. ProShare Advisors LLC’s holdings in Newmark Group were worth $186,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of NMRK. Hsbc Holdings PLC grew its stake in shares of 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 purchasing an additional 1,420 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in Newmark Group by 78.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,818 shares of the company’s stock valued at $203,000 after buying an additional 8,729 shares in the last quarter. Denali Advisors LLC raised its position in shares of Newmark Group by 39.2% in the second 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 period. Dimensional Fund Advisors LP boosted its stake in shares of Newmark Group by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company’s stock worth $68,399,000 after acquiring an additional 480,047 shares in the last quarter. Finally, Black Diamond Financial LLC purchased a new position in shares of Newmark Group in the 2nd quarter valued at about $102,000. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NMRK has been the topic of several research analyst reports. 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 report on Friday, August 16th. Keefe, Bruyette & Woods raised shares of Newmark Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $13.50 to $16.50 in a research note on Thursday, September 5th. Finally, Piper Sandler upped 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.

Newmark Group Stock Performance

NASDAQ NMRK opened at $14.94 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. Newmark Group, Inc. has a 1-year low of $5.09 and a 1-year high of $16.10. The company has a market cap of $2.58 billion, a PE ratio of 67.91 and a beta of 2.01. The stock’s 50 day simple moving average is $13.85 and its 200-day simple moving average is $11.66.

Newmark Group (NASDAQ:NMRK) last released its earnings results 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. The business had revenue of $633.40 million during the quarter, compared to analyst estimates of $630.27 million. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. As a group, equities research analysts anticipate that Newmark Group, Inc. will post 1.15 EPS for the current fiscal year.

Newmark Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, August 16th. Newmark Group’s dividend payout ratio is currently 54.55%.

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.