World Investment Advisors LLC Acquires New Position in Newmark Group, Inc. (NASDAQ:NMRK)

World Investment Advisors LLC bought a new position in shares of Newmark Group, Inc. (NASDAQ:NMRK) during the third quarter, HoldingsChannel.com reports. The firm bought 20,386 shares of the company’s stock, valued at approximately $317,000.

Several other large investors have also added to or reduced their stakes in NMRK. Fifth Third Bancorp purchased a new stake in shares of Newmark Group in the second quarter worth $33,000. Assetmark Inc. bought a new position in Newmark Group in the 3rd quarter worth $93,000. Black Diamond Financial LLC purchased a new stake in Newmark Group in the 2nd quarter worth $102,000. Evergreen Capital Management LLC bought a new stake in Newmark Group during the second quarter valued at about $107,000. Finally, SG Americas Securities LLC bought a new stake in Newmark Group during the third quarter valued at about $112,000. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods upgraded Newmark Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $13.50 to $16.50 in a research report on Thursday, September 5th. Piper Sandler increased their price objective on shares of Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Wolfe Research downgraded shares of Newmark Group from an “outperform” rating to a “peer perform” rating in a report on Monday, November 25th. Finally, The Goldman Sachs Group initiated coverage on shares of Newmark Group in a research report on Friday, December 6th. They set a “buy” rating and a $19.00 target price for the company.

Newmark Group Stock Performance

NASDAQ NMRK opened at $13.20 on Thursday. The stock has a market capitalization of $2.26 billion, a PE ratio of 44.00 and a beta of 1.96. Newmark Group, Inc. has a 1-year low of $9.22 and a 1-year high of $16.10. The business has a 50 day simple moving average of $15.03 and a two-hundred day simple moving average of $13.38. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42.

Newmark Group (NASDAQ:NMRK) last posted its earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The firm 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%. Newmark Group’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. On average, research analysts predict that Newmark Group, Inc. will post 1.15 EPS for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Thursday, November 21st. Newmark Group’s dividend payout ratio is 40.00%.

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.