Newmark Group, Inc. (NASDAQ:NMRK) Shares Purchased by Algert Global LLC

Algert Global LLC boosted its position in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 89.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,978 shares of the company’s stock after acquiring an additional 68,468 shares during the period. Algert Global LLC owned about 0.08% of Newmark Group worth $1,483,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Miller Howard Investments Inc. NY lifted its position in shares of Newmark Group by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 35,091 shares of the company’s stock worth $359,000 after buying an additional 823 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Newmark Group by 4.6% during the second quarter. Diversified Trust Co now owns 24,329 shares of the company’s stock worth $249,000 after buying an additional 1,080 shares during the last quarter. EntryPoint Capital LLC increased its position in Newmark Group by 35.5% in the 1st quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock valued at $49,000 after acquiring an additional 1,159 shares during the period. Hsbc Holdings PLC lifted its position in Newmark Group by 6.1% during the 2nd quarter. Hsbc Holdings PLC now owns 24,870 shares of the company’s stock worth $253,000 after acquiring an additional 1,420 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of Newmark Group by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 24,387 shares of the company’s stock valued at $270,000 after purchasing an additional 1,650 shares during the last quarter. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Analysts Set New Price Targets

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

Newmark Group Price Performance

Newmark Group stock opened at $15.69 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $2.71 billion, a PE ratio of 71.32 and a beta of 2.01. The firm’s 50-day simple moving average is $13.81 and its 200 day simple moving average is $11.62. Newmark Group, Inc. has a 52 week low of $5.09 and a 52 week high of $16.10.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. Newmark Group had a return on equity of 17.78% and a net margin of 1.75%. The company had revenue of $633.40 million during the quarter, compared to the consensus estimate of $630.27 million. During the same quarter last year, the business posted $0.18 earnings per share. Newmark Group’s revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts predict that Newmark Group, Inc. will post 1.15 EPS for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Friday, August 16th. Newmark Group’s dividend payout ratio is presently 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.