Newmark Group, Inc. (NASDAQ:NMRK) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 7.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 106,138 shares of the company’s stock after purchasing an additional 7,005 shares during the quarter. Victory Capital Management Inc.’s holdings in Newmark Group were worth $1,648,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. acquired a new position in shares of Newmark Group in the third quarter worth $93,000. Principal Financial Group Inc. raised its holdings 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 valued at $33,197,000 after buying an additional 1,946,322 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in Newmark Group by 249.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 16,484 shares of the company’s stock worth $254,000 after buying an additional 11,765 shares in the last quarter. CWC Advisors LLC. acquired a new stake in Newmark Group during the 3rd quarter valued at approximately $301,000. Finally, Sequoia Financial Advisors LLC bought a new position in Newmark Group during the 3rd quarter valued at $221,000. 58.42% of the stock is owned by hedge funds and other institutional investors.

Newmark Group Stock Up 1.6 %

Shares of Newmark Group stock opened at $15.52 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. Newmark Group, Inc. has a 12-month low of $7.73 and a 12-month high of $16.10. The firm has a market capitalization of $2.66 billion, a PE ratio of 51.73 and a beta of 2.01. The stock’s fifty day moving average is $15.11 and its 200-day moving average is $12.82.

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

Newmark Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.77%. The ex-dividend date is Thursday, November 21st. Newmark Group’s payout ratio is currently 40.00%.

Wall Street Analysts Forecast Growth

NMRK has been the topic of several research reports. Piper Sandler upped their price target on Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Wolfe Research cut shares of Newmark Group from an “outperform” rating to a “peer perform” rating in a report on Monday. Finally, Keefe, Bruyette & Woods raised Newmark Group from a “market perform” rating to an “outperform” rating and raised their target price for the company from $13.50 to $16.50 in a research note on Thursday, September 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.