Blue Trust Inc. Acquires 7,551 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Blue Trust Inc. raised its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 408.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 9,401 shares of the company’s stock after buying an additional 7,551 shares during the quarter. Blue Trust Inc.’s holdings in Newmark Group were worth $146,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NMRK. Wellington Management Group LLP purchased a new position in Newmark Group during the 4th quarter valued at about $4,518,000. Diversified Trust Co boosted its holdings in shares of Newmark Group by 5.4% in the 1st quarter. Diversified Trust Co now owns 23,249 shares of the company’s stock valued at $258,000 after buying an additional 1,200 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Newmark Group by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 36,398 shares of the company’s stock valued at $404,000 after buying an additional 3,067 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Newmark Group by 159.1% in the 1st quarter. Principal Financial Group Inc. now owns 193,418 shares of the company’s stock valued at $2,145,000 after buying an additional 118,776 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Newmark Group by 14.3% in the 1st quarter. BNP Paribas Financial Markets now owns 155,446 shares of the company’s stock valued at $1,724,000 after buying an additional 19,412 shares in the last quarter. Institutional investors own 58.42% of the company’s stock.

Newmark Group Stock Performance

Shares of NASDAQ NMRK opened at $15.12 on Monday. The company’s fifty day moving average price is $14.58 and its 200 day moving average price is $12.06. Newmark Group, Inc. has a 1 year low of $5.25 and a 1 year high of $16.10. The company has a market capitalization of $2.61 billion, a PE ratio of 68.73 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 announced its quarterly 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. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The firm had revenue of $633.40 million for the quarter, compared to the consensus estimate of $630.27 million. During the same period in the prior year, the firm posted $0.18 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts predict that Newmark Group, Inc. will post 1.15 earnings per share for the current year.

Newmark Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Friday, August 16th. Newmark Group’s dividend payout ratio is presently 54.55%.

Analyst Ratings Changes

NMRK has been the subject of a number of recent analyst reports. Piper Sandler lifted their target price on shares of Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note 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 price objective on the stock in a report on Friday, August 16th. Finally, Keefe, Bruyette & Woods raised shares of Newmark Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $13.50 to $16.50 in a report on Thursday, September 5th.

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.