Engineers Gate Manager LP acquired a new stake in shares of Newmark Group (NASDAQ:NMRK) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 47,840 shares of the company’s stock, valued at approximately $727,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN purchased a new stake in shares of Newmark Group during the fourth quarter valued at $153,000. Brown Advisory Inc. purchased a new stake in Newmark Group in the fourth quarter valued at $210,000. Landscape Capital Management L.L.C. purchased a new stake in Newmark Group in the fourth quarter valued at $239,000. Rhumbline Advisers purchased a new stake in Newmark Group in the first quarter valued at $287,000. Finally, Geode Capital Management LLC purchased a new stake in Newmark Group in the fourth quarter valued at $397,000. 15.25% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on NMRK. Zacks Investment Research raised shares of Newmark Group from a “sell” rating to a “hold” rating in a report on Saturday, May 5th. Sandler O’Neill lowered shares of Newmark Group from a “buy” rating to a “hold” rating in a report on Friday, May 4th. ValuEngine lowered shares of Newmark Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Newmark Group in a report on Monday, February 12th. Finally, Raymond James began coverage on shares of Newmark Group in a report on Tuesday, February 6th. They issued an “outperform” rating and a $21.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $19.64.
Shares of Newmark Group stock opened at $13.93 on Thursday. Newmark Group has a fifty-two week low of $13.72 and a fifty-two week high of $16.98. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.34 and a quick ratio of 0.34.
Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings data on Thursday, May 3rd. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $430.46 million for the quarter, compared to analyst estimates of $387.75 million. equities analysts anticipate that Newmark Group will post 1.48 EPS for the current year.
The company also recently disclosed a special dividend, which will be paid on Tuesday, June 5th. Shareholders of record on Monday, May 21st will be given a $0.09 dividend. The ex-dividend date is Friday, May 18th. Newmark Group’s dividend payout ratio (DPR) is currently 31.30%.
Newmark Group Company Profile
Newmark Group, Inc provides commercial real estate services in the United States and internationally. Its investor/owner services and products include capital markets, such as investment sales; and agency leasing, property management, valuation and advisory, and diligence and underwriting, as well as government sponsored enterprise lending, loan servicing, debt and structured finance, and loan sales under the Berkeley Point and NKF Capital Markets names.
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