Newmark Group, Inc. (NASDAQ:NMRK) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. reduced its position in Newmark Group, Inc. (NASDAQ:NMRK) by 20.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,330 shares of the company’s stock after selling 110,723 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Newmark Group were worth $5,551,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NMRK. Sterling Capital Management LLC increased its stake in Newmark Group by 813.9% in the 4th quarter. Sterling Capital Management LLC now owns 4,149 shares of the company’s stock valued at $53,000 after purchasing an additional 3,695 shares in the last quarter. Assetmark Inc. increased its stake in Newmark Group by 43.5% in the 4th quarter. Assetmark Inc. now owns 8,585 shares of the company’s stock valued at $110,000 after purchasing an additional 2,602 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Newmark Group by 48.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company’s stock valued at $120,000 after purchasing an additional 3,070 shares in the last quarter. Optimize Financial Inc purchased a new position in Newmark Group in the 4th quarter valued at approximately $132,000. Finally, Highland Capital Management LLC purchased a new position in Newmark Group in the 4th quarter valued at approximately $135,000. 58.42% of the stock is owned by hedge funds and other institutional investors.

Newmark Group Stock Performance

Newmark Group stock opened at $11.87 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a fifty day moving average of $11.48 and a two-hundred day moving average of $13.23. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 33.92 and a beta of 1.99. Newmark Group, Inc. has a fifty-two week low of $9.64 and a fifty-two week high of $16.10.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $665.49 million during the quarter, compared to the consensus estimate of $609.28 million. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. Newmark Group’s revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 earnings per share. On average, analysts anticipate that Newmark Group, Inc. will post 1.45 EPS for the current fiscal year.

Newmark Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Wednesday, May 14th. Newmark Group’s dividend payout ratio (DPR) is 30.77%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. The Goldman Sachs Group dropped their price objective on Newmark Group from $19.50 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Keefe, Bruyette & Woods dropped their price objective on Newmark Group from $14.50 to $14.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, Piper Sandler dropped their price target on Newmark Group from $19.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, May 5th.

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.