Pictet Asset Management Holding SA Grows Holdings in Newmark Group, Inc. (NASDAQ:NMRK)

Pictet Asset Management Holding SA raised its holdings in Newmark Group, Inc. (NASDAQ:NMRK) by 36.7% during the fourth quarter, HoldingsChannel reports. The firm owned 21,161 shares of the company’s stock after buying an additional 5,682 shares during the period. Pictet Asset Management Holding SA’s holdings in Newmark Group were worth $271,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in NMRK. The Manufacturers Life Insurance Company increased its position in Newmark Group by 6.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 76,602 shares of the company’s stock valued at $1,190,000 after acquiring an additional 4,834 shares during the period. State Street Corp grew its stake 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 purchasing an additional 247,433 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Newmark Group by 8.4% in the third quarter. Jane Street Group LLC now owns 140,001 shares of the company’s stock valued at $2,174,000 after purchasing an additional 10,796 shares during the period. XTX Topco Ltd purchased a new stake in shares of Newmark Group during the third quarter worth approximately $390,000. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of Newmark Group by 49.4% during the third quarter. Orion Portfolio Solutions LLC now owns 137,358 shares of the company’s stock worth $2,133,000 after purchasing an additional 45,426 shares during the period. 58.42% of the stock is owned by hedge funds and other institutional investors.

Newmark Group Stock Performance

Shares of NMRK stock opened at $10.33 on Friday. 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 stock has a 50 day simple moving average of $12.95 and a 200-day simple moving average of $13.89. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 29.52 and a beta of 1.69. Newmark Group, Inc. has a 12-month low of $9.44 and a 12-month high of $16.10.

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

Newmark Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Monday, March 3rd. Newmark Group’s dividend payout ratio is currently 34.29%.

Analyst Upgrades and Downgrades

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

Newmark Group Profile

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.