Meeder Asset Management Inc. Purchases 14,673 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Meeder Asset Management Inc. increased its position in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 93.9% during the first quarter, HoldingsChannel.com reports. The fund owned 30,293 shares of the company’s stock after acquiring an additional 14,673 shares during the period. Meeder Asset Management Inc.’s holdings in Newmark Group were worth $369,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Newmark Group by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 21,114,662 shares of the company’s stock worth $270,479,000 after acquiring an additional 83,094 shares during the period. Dimensional Fund Advisors LP increased its holdings in Newmark Group by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,374,705 shares of the company’s stock worth $81,660,000 after acquiring an additional 88,618 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Newmark Group by 103.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,948,511 shares of the company’s stock worth $37,770,000 after acquiring an additional 1,502,372 shares during the period. Millennium Management LLC increased its holdings in Newmark Group by 138.5% during the 4th quarter. Millennium Management LLC now owns 1,916,186 shares of the company’s stock worth $24,546,000 after acquiring an additional 1,112,610 shares during the period. Finally, Bridgeway Capital Management LLC increased its holdings in Newmark Group by 2.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,675,161 shares of the company’s stock worth $21,459,000 after acquiring an additional 38,233 shares during the period. Institutional investors own 58.42% of the company’s stock.

Analyst Upgrades and Downgrades

NMRK has been the topic of a number of analyst reports. Wall Street Zen raised shares of Newmark Group from a “hold” rating to a “buy” rating in a report on Saturday. Wolfe Research raised shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $14.00 price target on the stock in a report on Friday, May 23rd. JMP Securities initiated coverage on shares of Newmark Group in a report on Monday, July 21st. They set a “market outperform” rating and a $17.00 target price on the stock. Piper Sandler reduced their target price on shares of Newmark Group from $19.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Finally, Citizens Jmp initiated coverage on shares of Newmark Group in a report on Monday, July 21st. They set a “strong-buy” rating and a $17.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Newmark Group currently has a consensus rating of “Buy” and an average target price of $16.00.

Newmark Group Price Performance

NMRK stock opened at $14.44 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.47 and a current ratio of 0.47. Newmark Group, Inc. has a 52 week low of $9.65 and a 52 week high of $16.10. The firm’s fifty day moving average is $11.92 and its 200 day moving average is $12.28. The firm has a market cap of $2.66 billion, a P/E ratio of 37.03 and a beta of 1.93.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Newmark Group had a net margin of 2.39% and a return on equity of 21.85%. The firm had revenue of $665.49 million for the quarter, compared to analysts’ expectations of $609.28 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. Research analysts predict that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

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.