Highland Capital Management LLC Makes New $135,000 Investment in Newmark Group, Inc. (NASDAQ:NMRK)

Highland Capital Management LLC bought a new stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 10,505 shares of the company’s stock, valued at approximately $135,000.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Newmark Group by 5.7% during the third 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 during the period. State Street Corp raised its position in shares of Newmark Group by 7.8% in the 3rd quarter. State Street Corp now owns 3,426,682 shares of the company’s stock valued at $53,216,000 after buying an additional 247,433 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Newmark Group by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,152,232 shares of the company’s stock worth $33,424,000 after acquiring an additional 85,728 shares during the period. Principal Financial Group Inc. boosted its position 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 worth $33,197,000 after acquiring an additional 1,946,322 shares in the last quarter. Finally, Systematic Financial Management LP increased its stake 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 during the last quarter. 58.42% of the stock is owned by institutional investors and hedge funds.

Newmark Group Stock Performance

NASDAQ NMRK opened at $14.13 on Friday. The firm’s fifty day moving average price is $13.81 and its two-hundred day moving average price is $14.00. The stock has a market cap of $2.42 billion, a PE ratio of 47.10 and a beta of 1.99. 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 fifty-two week low of $9.44 and a fifty-two week high of $16.10.

Newmark Group (NASDAQ:NMRK) last issued its earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $685.90 million during the quarter, compared to analysts’ expectations of $682.07 million. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. On average, equities analysts expect that Newmark Group, Inc. will post 1.16 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. Investors of record on Thursday, November 21st were given a dividend of $0.03 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.12 annualized dividend and a yield of 0.85%. Newmark Group’s dividend payout ratio is presently 40.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on Newmark Group in a report on Friday, December 6th. They issued a “buy” rating and a $19.00 target price on the stock. Wolfe Research lowered Newmark Group from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 25th.

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.