Great Lakes Advisors LLC Trims Stock Position in Newmark Group, Inc. (NASDAQ:NMRK)

Great Lakes Advisors LLC decreased its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,193 shares of the company’s stock after selling 1,291 shares during the quarter. Great Lakes Advisors LLC’s holdings in Newmark Group were worth $336,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Newmark Group by 1,017.4% during the 3rd quarter. Principal Financial Group Inc. now owns 2,137,630 shares of the company’s stock worth $33,197,000 after purchasing an additional 1,946,322 shares during the last quarter. Vision Capital Corp purchased a new position in shares of Newmark Group during the 3rd quarter worth approximately $17,203,000. Systematic Financial Management LP raised its position in Newmark Group by 53.1% in the third quarter. Systematic Financial Management LP now owns 1,421,985 shares of the company’s stock valued at $22,083,000 after purchasing an additional 493,050 shares during the period. Raymond James Financial Inc. purchased a new stake in Newmark Group in the fourth quarter valued at approximately $4,785,000. Finally, State Street Corp lifted its stake 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 purchasing an additional 247,433 shares in the last quarter. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Newmark Group Stock Up 4.7 %

Shares of NASDAQ NMRK opened at $12.40 on Monday. The stock has a market cap of $2.24 billion, a P/E ratio of 35.43 and a beta of 1.96. The business’s fifty day simple moving average is $13.56 and its 200-day simple moving average is $14.29. Newmark Group, Inc. has a 12-month low of $9.44 and a 12-month high of $16.10. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52.

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

Newmark Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.03 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.97%. Newmark Group’s payout ratio is 34.29%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group started coverage on Newmark Group in a report on Friday, December 6th. They issued a “buy” rating and a $19.00 price objective on the stock. Wolfe Research downgraded Newmark Group from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 25th.

About Newmark Group

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.