Assetmark Inc. Purchases Shares of 5,983 Newmark Group, Inc. (NASDAQ:NMRK)

Assetmark Inc. bought a new position in Newmark Group, Inc. (NASDAQ:NMRK) during the 3rd quarter, Holdings Channel.com reports. The fund bought 5,983 shares of the company’s stock, valued at approximately $93,000.

Several other hedge funds have also recently modified their holdings of the stock. Miller Howard Investments Inc. NY lifted its holdings in shares of Newmark Group by 2.4% in the second quarter. Miller Howard Investments Inc. NY now owns 35,091 shares of the company’s stock worth $359,000 after buying an additional 823 shares in the last quarter. Diversified Trust Co raised its stake in Newmark Group by 4.6% during the second quarter. Diversified Trust Co now owns 24,329 shares of the company’s stock valued at $249,000 after purchasing an additional 1,080 shares in the last quarter. Creative Planning raised its stake in Newmark Group by 3.0% during the second quarter. Creative Planning now owns 39,393 shares of the company’s stock valued at $403,000 after purchasing an additional 1,131 shares in the last quarter. EntryPoint Capital LLC raised its stake in Newmark Group by 35.5% during the first quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock valued at $49,000 after purchasing an additional 1,159 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in Newmark Group by 6.1% during the second quarter. Hsbc Holdings PLC now owns 24,870 shares of the company’s stock valued at $253,000 after purchasing an additional 1,420 shares in the last quarter. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Newmark Group Trading Down 0.9 %

NMRK stock opened at $15.13 on Monday. The company has a quick ratio of 0.49, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. Newmark Group, Inc. has a twelve month low of $7.63 and a twelve month high of $16.10. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 50.43 and a beta of 2.01. The firm’s fifty day simple moving average is $15.06 and its two-hundred day simple moving average is $12.62.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $685.90 million for the quarter, compared to analysts’ expectations of $682.07 million. Newmark Group had a net margin of 2.00% and a return on equity of 18.95%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. As a group, analysts anticipate that Newmark Group, Inc. will post 1.15 earnings per share for the current year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Thursday, November 21st. Newmark Group’s payout ratio is 40.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wolfe Research raised shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a research note on Friday, August 16th. Piper Sandler upped their price target on shares of Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods raised shares of Newmark Group from a “market perform” rating to an “outperform” rating and upped their price target for the company 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.