Newmark Group, Inc. (NASDAQ:NMRK) Shares Bought by Empowered Funds LLC

Empowered Funds LLC grew its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 5.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 749,118 shares of the company’s stock after acquiring an additional 38,195 shares during the quarter. Empowered Funds LLC owned about 0.44% of Newmark Group worth $11,634,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NMRK. Allspring Global Investments Holdings LLC lifted its holdings in shares of Newmark Group by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 36,398 shares of the company’s stock valued at $404,000 after buying an additional 3,067 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Newmark Group in the first quarter valued at $241,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Newmark Group in the first quarter valued at $135,000. ProShare Advisors LLC lifted its holdings in shares of Newmark Group by 7.3% in the first quarter. ProShare Advisors LLC now owns 24,387 shares of the company’s stock valued at $270,000 after buying an additional 1,650 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Newmark Group by 3.6% in the first quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock valued at $227,067,000 after buying an additional 702,233 shares during the period. Institutional investors and hedge funds own 58.42% of the company’s stock.

Newmark Group Stock Down 0.3 %

Shares of NMRK traded down $0.04 during midday trading on Friday, reaching $15.22. 56,769 shares of the stock were exchanged, compared to its average volume of 1,153,087. Newmark Group, Inc. has a 12-month low of $7.63 and a 12-month high of $16.10. The firm has a 50 day simple moving average of $15.02 and a 200-day simple moving average of $12.54. 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 company has a market cap of $2.62 billion, a price-to-earnings ratio of 50.87 and a beta of 2.01.

Newmark Group (NASDAQ:NMRK) last posted its quarterly 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 business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS. Research analysts forecast that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wolfe Research upgraded Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a report on Friday, August 16th. Piper Sandler increased their price objective on Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods raised Newmark Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock 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.