nVerses Capital LLC Makes New Investment in Newmark Group, Inc. (NASDAQ:NMRK)

nVerses Capital LLC acquired a new stake in Newmark Group, Inc. (NASDAQ:NMRK) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 13,200 shares of the company’s stock, valued at approximately $205,000.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Newmark Group by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock valued at $227,067,000 after purchasing an additional 702,233 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Newmark Group by 1,595.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 713,621 shares of the company’s stock valued at $7,914,000 after buying an additional 671,521 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Newmark Group by 251.0% during the second quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock worth $7,246,000 after buying an additional 506,510 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Newmark Group by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company’s stock worth $68,399,000 after buying an additional 480,047 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in Newmark Group in the 4th quarter valued at about $4,518,000. 58.42% of the stock is owned by institutional investors and hedge funds.

Newmark Group Stock Down 0.3 %

NMRK opened at $14.85 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.49 and a quick ratio of 0.49. The business has a 50 day simple moving average of $14.35 and a 200-day simple moving average of $11.92. The stock has a market capitalization of $2.56 billion, a P/E ratio of 67.50 and a beta of 2.01. Newmark Group, Inc. has a 12 month low of $5.09 and a 12 month high of $16.10.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data 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 firm had revenue of $633.40 million during the quarter, compared to analysts’ expectations of $630.27 million. Newmark Group had a return on equity of 17.78% and a net margin of 1.75%. Newmark Group’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 earnings per share. On average, equities analysts anticipate that Newmark Group, Inc. will post 1.15 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Friday, August 16th. Newmark Group’s dividend payout ratio is currently 54.55%.

Analysts Set New Price Targets

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

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.