Arrowstreet Capital Limited Partnership Has $37.77 Million Position in Newmark Group, Inc. (NASDAQ:NMRK)

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 103.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,948,511 shares of the company’s stock after buying an additional 1,502,372 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Newmark Group were worth $37,770,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NMRK. Principal Financial Group Inc. boosted its position in Newmark Group by 1,017.4% during the third quarter. Principal Financial Group Inc. now owns 2,137,630 shares of the company’s stock valued at $33,197,000 after purchasing an additional 1,946,322 shares during the last quarter. Systematic Financial Management LP raised its stake in shares of Newmark Group by 53.1% during the 3rd quarter. Systematic Financial Management LP now owns 1,421,985 shares of the company’s stock worth $22,083,000 after purchasing an additional 493,050 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Newmark Group in the 4th quarter valued at approximately $4,785,000. Norges Bank bought a new position in shares of Newmark Group in the fourth quarter valued at $3,307,000. Finally, State Street Corp increased its holdings in Newmark Group by 7.8% during the third quarter. State Street Corp now owns 3,426,682 shares of the company’s stock worth $53,216,000 after buying an additional 247,433 shares during the last quarter. Institutional investors own 58.42% of the company’s stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group cut their price target on shares of Newmark Group from $19.50 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th.

Newmark Group Stock Performance

Shares of NASDAQ NMRK opened at $12.35 on Thursday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $2.23 billion, a P/E ratio of 35.29 and a beta of 1.96. Newmark Group, Inc. has a 12 month low of $9.44 and a 12 month high of $16.10. The stock has a 50 day moving average of $13.48 and a 200-day moving average of $14.14.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Friday, February 14th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. The firm had revenue of $888.30 million during the quarter, compared to analysts’ expectations of $790.76 million. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 earnings per share. As a group, equities research analysts predict that Newmark Group, Inc. will post 1.45 EPS for the current year.

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.03 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.12 annualized dividend and a yield of 0.97%. Newmark Group’s dividend payout ratio is currently 34.29%.

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.