Newmark Group, Inc. (NASDAQ:NMRK) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its stake in Newmark Group, Inc. (NASDAQ:NMRK) by 11.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 841,768 shares of the company’s stock after selling 111,904 shares during the period. New York State Common Retirement Fund’s holdings in Newmark Group were worth $10,783,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Assetmark Inc. purchased a new position in Newmark Group in the 3rd quarter valued at $93,000. Highland Capital Management LLC acquired a new stake in shares of Newmark Group in the 4th quarter worth $135,000. Blue Trust Inc. boosted its holdings in shares of Newmark Group by 408.2% in the third quarter. Blue Trust Inc. now owns 9,401 shares of the company’s stock valued at $146,000 after acquiring an additional 7,551 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of Newmark Group during the third quarter worth about $178,000. Finally, Coldstream Capital Management Inc. purchased a new position in Newmark Group during the third quarter worth about $181,000. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Wall Street Analyst Weigh In

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

Newmark Group Stock Down 1.2 %

Shares of NASDAQ NMRK opened at $13.99 on Tuesday. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 39.97 and a beta of 1.99. Newmark Group, Inc. has a 52 week low of $9.44 and a 52 week high of $16.10. The firm has a 50-day moving average price of $13.44 and a 200 day moving average price of $14.24. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52.

Newmark Group (NASDAQ:NMRK) last issued its earnings results on Friday, February 14th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. The company had revenue of $888.30 million during the quarter, compared to analysts’ expectations of $790.76 million. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period last year, the company posted $0.46 earnings per share. Equities research analysts anticipate that Newmark Group, Inc. will post 1.45 EPS for the current fiscal year.

Newmark Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.12 dividend on an annualized basis and a yield of 0.86%. Newmark Group’s payout ratio is 34.29%.

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.