Raymond James Financial Inc. Invests $4.79 Million in Newmark Group, Inc. (NASDAQ:NMRK)

Raymond James Financial Inc. bought a new stake in Newmark Group, Inc. (NASDAQ:NMRK) during the fourth quarter, HoldingsChannel reports. The firm bought 373,532 shares of the company’s stock, valued at approximately $4,785,000.

Several other institutional investors and hedge funds have also bought and sold shares of NMRK. Assetmark Inc. grew its stake in Newmark Group by 43.5% in the fourth quarter. Assetmark Inc. now owns 8,585 shares of the company’s stock valued at $110,000 after purchasing an additional 2,602 shares in the last quarter. Highland Capital Management LLC acquired a new position in Newmark Group during the fourth quarter worth $135,000. Coldstream Capital Management Inc. bought a new stake in Newmark Group during the third quarter worth $181,000. ClearAlpha Technologies LP bought a new stake in Newmark Group during the third quarter worth $253,000. Finally, Asset Management One Co. Ltd. lifted its stake in Newmark Group by 32.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 16,473 shares of the company’s stock valued at $211,000 after acquiring an additional 4,019 shares during the last quarter. Institutional investors own 58.42% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group lowered their price objective on shares of Newmark Group from $19.50 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th.

Newmark Group Stock Performance

Shares of NASDAQ NMRK opened at $12.74 on Wednesday. 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 company has a market capitalization of $2.30 billion, a P/E ratio of 36.40 and a beta of 1.96. Newmark Group, Inc. has a 12 month low of $9.44 and a 12 month high of $16.10. The stock has a 50 day moving average of $13.61 and a 200-day moving average of $14.23.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Friday, February 14th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. The firm 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 company’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 earnings per share. As a group, equities research analysts predict that Newmark Group, Inc. will post 1.45 EPS for the current year.

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.03 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.12 annualized dividend and a yield of 0.94%. Newmark Group’s dividend payout ratio is currently 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.