DekaBank Deutsche Girozentrale Sells 11,765 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

DekaBank Deutsche Girozentrale lessened its holdings in Newmark Group, Inc. (NASDAQ:NMRK) by 71.4% during the second quarter, Holdings Channel.com reports. The firm owned 4,719 shares of the company’s stock after selling 11,765 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Newmark Group were worth $47,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. AdvisorShares Investments LLC bought a new position in Newmark Group during the 2nd quarter valued at approximately $462,000. Quest Partners LLC increased its holdings in shares of Newmark Group by 40.8% during the second quarter. Quest Partners LLC now owns 49,706 shares of the company’s stock valued at $508,000 after acquiring an additional 14,415 shares in the last quarter. Foundry Partners LLC increased its holdings in shares of Newmark Group by 5.3% during the second quarter. Foundry Partners LLC now owns 840,576 shares of the company’s stock valued at $8,599,000 after acquiring an additional 42,314 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Newmark Group by 68.1% in the 2nd quarter. Victory Capital Management Inc. now owns 99,133 shares of the company’s stock worth $1,014,000 after purchasing an additional 40,174 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Newmark Group by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 247,351 shares of the company’s stock worth $2,530,000 after purchasing an additional 4,888 shares in the last quarter. Institutional investors own 58.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NMRK shares. Piper Sandler lifted their target price on shares of Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Wolfe Research upgraded shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a report on Friday, August 16th. Finally, Keefe, Bruyette & Woods upgraded Newmark Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $13.50 to $16.50 in a research note on Thursday, September 5th.

Newmark Group Stock Performance

Shares of NASDAQ NMRK opened at $15.22 on Friday. The firm’s 50-day moving average price is $13.15 and its 200-day moving average price is $11.32. Newmark Group, Inc. has a 52-week low of $5.09 and a 52-week high of $15.49. The company has a market cap of $2.63 billion, a PE ratio of 69.18 and a beta of 2.01. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.49.

Newmark Group (NASDAQ:NMRK) last issued its earnings results on Friday, August 2nd. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. The company had revenue of $633.40 million for the quarter, compared to analysts’ expectations of $630.27 million. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company posted $0.18 earnings per share. As a group, analysts anticipate that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Friday, August 16th. Newmark Group’s dividend payout ratio is 54.55%.

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.