Edgestream Partners L.P. Makes New $1.47 Million Investment in Newmark Group, Inc. (NASDAQ:NMRK)

Edgestream Partners L.P. bought a new stake in Newmark Group, Inc. (NASDAQ:NMRK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 94,686 shares of the company’s stock, valued at approximately $1,470,000. Edgestream Partners L.P. owned about 0.06% of Newmark Group at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in NMRK. Assenagon Asset Management S.A. grew its holdings in Newmark Group by 251.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock valued at $7,246,000 after buying an additional 506,510 shares in the last quarter. Algert Global LLC boosted its position in shares of Newmark Group by 64.3% in the third quarter. Algert Global LLC now owns 238,138 shares of the company’s stock valued at $3,698,000 after acquiring an additional 93,160 shares during the period. Systematic Financial Management LP grew its stake in shares of Newmark Group by 11.9% in the second quarter. Systematic Financial Management LP now owns 928,935 shares of the company’s stock valued at $9,503,000 after acquiring an additional 98,532 shares in the last quarter. DRW Securities LLC bought a new position in Newmark Group during the third quarter worth about $621,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Newmark Group by 104.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 120,535 shares of the company’s stock worth $1,872,000 after purchasing an additional 61,563 shares in the last quarter. Institutional investors own 58.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NMRK shares. Keefe, Bruyette & Woods upgraded shares of 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. Wolfe Research downgraded Newmark Group from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 25th. Finally, Piper Sandler lifted their price objective on Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd.

Newmark Group Price Performance

Shares of NASDAQ:NMRK opened at $15.30 on Wednesday. The firm has a 50 day moving average of $15.15 and a 200-day moving average of $13.06. Newmark Group, Inc. has a 12 month low of $8.28 and a 12 month high of $16.10. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $2.62 billion, a PE ratio of 51.00 and a beta of 1.96.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $685.90 million during the quarter, compared to the consensus estimate of $682.07 million. Newmark Group had a net margin of 2.00% and a return on equity of 18.95%. The company’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.27 earnings per share. On average, equities 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 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 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Thursday, November 21st. Newmark Group’s dividend payout ratio is presently 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.