Cibc World Markets Corp Takes Position in Newmark Group, Inc. (NASDAQ:NMRK)

Cibc World Markets Corp purchased a new position in shares of Newmark Group, Inc. (NASDAQ:NMRK) in the 4th quarter, Holdings Channel.com reports. The firm purchased 12,322 shares of the company’s stock, valued at approximately $158,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its holdings in shares of Newmark Group by 43.5% during the fourth quarter. Assetmark Inc. now owns 8,585 shares of the company’s stock worth $110,000 after buying an additional 2,602 shares in the last quarter. Highland Capital Management LLC purchased a new stake in Newmark Group during the 4th quarter valued at about $135,000. Coldstream Capital Management Inc. purchased a new position in Newmark Group in the 3rd quarter worth approximately $181,000. Asset Management One Co. Ltd. boosted its holdings in shares of Newmark Group by 32.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 16,473 shares of the company’s stock worth $211,000 after purchasing an additional 4,019 shares during the last quarter. Finally, ClearAlpha Technologies LP purchased a new stake in shares of Newmark Group in the third quarter valued at approximately $253,000. 58.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Newmark Group Stock Performance

Newmark Group stock opened at $12.48 on Friday. The firm has a 50 day simple moving average of $13.58 and a 200-day simple moving average of $14.21. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 35.66 and a beta of 1.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42. Newmark Group, Inc. has a 1-year low of $9.44 and a 1-year high of $16.10.

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

Newmark Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.03 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.12 dividend on an annualized basis and a yield of 0.96%. Newmark Group’s 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.