Robertson Stephens Wealth Management LLC Grows Stock Position in Newmark Group, Inc. (NASDAQ:NMRK)

Robertson Stephens Wealth Management LLC raised its position in Newmark Group, Inc. (NASDAQ:NMRK) by 1.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 319,185 shares of the company’s stock after buying an additional 5,186 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Newmark Group were worth $4,089,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Newmark Group by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,554,867 shares of the company’s stock worth $55,216,000 after purchasing an additional 190,974 shares in the last quarter. State Street Corp grew its position in Newmark Group by 7.8% in the third quarter. State Street Corp now owns 3,426,682 shares of the company’s stock valued at $53,216,000 after acquiring an additional 247,433 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Newmark Group by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,152,232 shares of the company’s stock valued at $33,424,000 after acquiring an additional 85,728 shares in the last quarter. Principal Financial Group Inc. grew its position 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 valued at $33,197,000 after acquiring an additional 1,946,322 shares in the last quarter. Finally, Systematic Financial Management LP grew its position in Newmark Group by 53.1% in the third quarter. Systematic Financial Management LP now owns 1,421,985 shares of the company’s stock valued at $22,083,000 after acquiring an additional 493,050 shares in the last quarter. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

Newmark Group Stock Up 1.9 %

Shares of NMRK stock opened at $14.14 on Thursday. The stock’s 50 day simple moving average is $13.74 and its 200 day simple moving average is $14.06. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. Newmark Group, Inc. has a twelve month low of $9.44 and a twelve month high of $16.10. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 47.13 and a beta of 1.99.

Newmark Group (NASDAQ:NMRK) last released its earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $685.90 million during the quarter, compared to the consensus estimate of $682.07 million. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.27 earnings per share. As a group, research analysts predict that Newmark Group, Inc. will post 1.16 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wolfe Research cut Newmark Group from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 25th. The Goldman Sachs Group began coverage on Newmark Group in a research note on Friday, December 6th. They set a “buy” rating and a $19.00 target price for the company.

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.