Creative Planning Boosts Stock Position in Newmark Group, Inc. (NASDAQ:NMRK)

Creative Planning lifted its position in Newmark Group, Inc. (NASDAQ:NMRK) by 3.0% in the second quarter, Holdings Channel.com reports. The firm owned 39,393 shares of the company’s stock after purchasing an additional 1,131 shares during the quarter. Creative Planning’s holdings in Newmark Group were worth $403,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Newmark Group by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock worth $227,067,000 after purchasing an additional 702,233 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Newmark Group by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company’s stock worth $68,399,000 after purchasing an additional 480,047 shares in the last quarter. Leeward Investments LLC MA boosted its holdings in shares of Newmark Group by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 1,907,574 shares of the company’s stock worth $19,514,000 after purchasing an additional 101,426 shares in the last quarter. Foundry Partners LLC boosted its holdings in shares of Newmark Group by 5.3% in the 2nd quarter. Foundry Partners LLC now owns 840,576 shares of the company’s stock worth $8,599,000 after purchasing an additional 42,314 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Newmark Group by 1,595.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 713,621 shares of the company’s stock worth $7,914,000 after purchasing an additional 671,521 shares in the last quarter. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Newmark Group Trading Up 0.3 %

NMRK opened at $15.10 on Thursday. The business has a 50 day simple moving average of $14.24 and a two-hundred day simple moving average of $11.86. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 68.64 and a beta of 2.01. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.49 and a quick ratio of 0.49. Newmark Group, Inc. has a one year low of $5.09 and a one year high of $16.10.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $633.40 million during the quarter, compared to analyst estimates of $630.27 million. Newmark Group had a return on equity of 17.78% and a net margin of 1.75%. Newmark Group’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 EPS. Analysts predict that Newmark Group, Inc. will post 1.15 EPS for the current 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 given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Friday, August 16th. Newmark Group’s payout ratio is 54.55%.

Newmark Group Company 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.