Fmr LLC Sells 219,837 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Fmr LLC reduced its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 5.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,945,474 shares of the company’s stock after selling 219,837 shares during the quarter. Fmr LLC owned 2.30% of Newmark Group worth $61,273,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased 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 purchasing an additional 1,946,322 shares in the last quarter. Vision Capital Corp bought a new position in shares of Newmark Group in the third quarter valued at approximately $17,203,000. Assenagon Asset Management S.A. boosted its holdings in shares of Newmark Group by 251.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock worth $7,246,000 after acquiring an additional 506,510 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Newmark Group by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company’s stock valued at $68,399,000 after purchasing an additional 480,047 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in Newmark Group by 153.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 599,351 shares of the company’s stock valued at $6,131,000 after purchasing an additional 363,032 shares during the last quarter. 58.42% of the stock is owned by institutional investors.

Newmark Group Price Performance

Newmark Group stock opened at $15.77 on Friday. The business’s 50-day simple moving average is $15.14 and its 200 day simple moving average is $13.13. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 52.57 and a beta of 1.96. Newmark Group, Inc. has a 12-month low of $8.28 and a 12-month 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, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $685.90 million for 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%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 EPS. As a group, research analysts anticipate that Newmark Group, Inc. will post 1.15 earnings per share for the current year.

Newmark Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders 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 0.76%. The ex-dividend date of this dividend was Thursday, November 21st. Newmark Group’s payout ratio is 40.00%.

Wall Street Analyst Weigh In

NMRK has been the topic of several research analyst reports. Wolfe Research cut 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 shares of Newmark Group in a research report on Friday. They issued a “buy” rating and a $19.00 price objective for the company. Piper Sandler boosted their target price on shares of 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 shares of Newmark Group from a “market perform” rating to an “outperform” rating and increased their price target for the company 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.