Assetmark Inc. Makes New Investment in Newmark Group, Inc. (NASDAQ:NMRK)

Assetmark Inc. bought a new position in Newmark Group, Inc. (NASDAQ:NMRK) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,983 shares of the company’s stock, valued at approximately $93,000.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Newmark Group by 3.6% in the first quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock worth $227,067,000 after buying an additional 702,233 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Newmark Group by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company’s stock worth $68,399,000 after buying an additional 480,047 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Newmark Group by 1,017.4% in the third quarter. Principal Financial Group Inc. now owns 2,137,630 shares of the company’s stock worth $33,197,000 after buying an additional 1,946,322 shares during the last quarter. Leeward Investments LLC MA raised its holdings in Newmark Group by 5.6% in the second quarter. Leeward Investments LLC MA now owns 1,907,574 shares of the company’s stock worth $19,514,000 after buying an additional 101,426 shares during the last quarter. Finally, Systematic Financial Management LP grew its stake in shares of Newmark Group by 11.9% in the second quarter. Systematic Financial Management LP now owns 928,935 shares of the company’s stock worth $9,503,000 after acquiring an additional 98,532 shares during the period. 58.42% of the stock is owned by hedge funds and other institutional investors.

Newmark Group Stock Performance

Shares of NASDAQ NMRK opened at $15.13 on Monday. The firm has a 50 day moving average of $15.06 and a 200 day moving average of $12.62. The company has a current ratio of 0.42, a quick ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 50.43 and a beta of 2.01. Newmark Group, Inc. has a 12-month low of $7.63 and a 12-month high of $16.10.

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

Newmark Group Dividend Announcement

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

Analyst Ratings Changes

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

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.