Aigen Investment Management LP Lowers Stake in Newmark Group, Inc. (NASDAQ:NMRK)

Aigen Investment Management LP trimmed its holdings in Newmark Group, Inc. (NASDAQ:NMRK) by 60.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 14,111 shares of the company’s stock after selling 21,425 shares during the period. Aigen Investment Management LP’s holdings in Newmark Group were worth $219,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Assenagon Asset Management S.A. lifted its position in Newmark Group by 251.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock worth $7,246,000 after acquiring an additional 506,510 shares during the period. Systematic Financial Management LP grew its position in Newmark Group by 11.9% in the 2nd quarter. Systematic Financial Management LP now owns 928,935 shares of the company’s stock valued at $9,503,000 after buying an additional 98,532 shares during the last quarter. Algert Global LLC increased its stake in Newmark Group by 89.5% in the 2nd quarter. Algert Global LLC now owns 144,978 shares of the company’s stock valued at $1,483,000 after buying an additional 68,468 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Newmark Group by 104.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 120,535 shares of the company’s stock valued at $1,872,000 after buying an additional 61,563 shares during the period. Finally, Miller Howard Investments Inc. NY raised its position in Newmark Group by 2.4% during the 2nd 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 during the last quarter. 58.42% of the stock is owned by hedge funds and other institutional investors.

Newmark Group Stock Performance

NASDAQ:NMRK opened at $15.13 on Friday. The firm’s fifty day simple moving average is $15.06 and its 200-day simple moving average is $12.60. The company has a quick ratio of 0.49, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. The stock has a market cap of $2.60 billion, a PE ratio of 50.43 and a beta of 2.01. Newmark Group, Inc. has a fifty-two week low of $7.63 and a fifty-two week high of $16.10.

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

Newmark Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.79%. The ex-dividend date is Thursday, November 21st. Newmark Group’s payout ratio is currently 40.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NMRK shares. Keefe, Bruyette & Woods upgraded shares of Newmark Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $13.50 to $16.50 in a research note on Thursday, September 5th. Piper Sandler lifted their price objective on Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Finally, Wolfe Research raised Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 target price for the company in a research note on Friday, August 16th.

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.