Sequoia Financial Advisors LLC Buys New Position in Newmark Group, Inc. (NASDAQ:NMRK)

Sequoia Financial Advisors LLC bought a new stake in Newmark Group, Inc. (NASDAQ:NMRK) during the 3rd quarter, Holdings Channel.com reports. The firm bought 14,200 shares of the company’s stock, valued at approximately $221,000.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its holdings in Newmark Group by 251.0% in the second quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock valued at $7,246,000 after acquiring an additional 506,510 shares during the last quarter. Systematic Financial Management LP boosted its holdings in Newmark Group by 11.9% in the second quarter. Systematic Financial Management LP now owns 928,935 shares of the company’s stock valued at $9,503,000 after acquiring an additional 98,532 shares during the last quarter. Algert Global LLC boosted its holdings in Newmark Group by 89.5% in the second quarter. Algert Global LLC now owns 144,978 shares of the company’s stock valued at $1,483,000 after acquiring an additional 68,468 shares during the last quarter. Miller Howard Investments Inc. NY boosted its holdings 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 in the last quarter. Finally, AdvisorShares Investments LLC bought a new position in shares of Newmark Group during the 2nd quarter worth approximately $462,000. 58.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods upgraded 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. Piper Sandler increased their price target on Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Finally, Wolfe Research upgraded Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a report on Friday, August 16th.

Newmark Group Price Performance

Shares of NMRK opened at $14.91 on Wednesday. Newmark Group, Inc. has a 12-month low of $5.43 and a 12-month high of $16.10. The business’s fifty day moving average is $14.63 and its 200 day moving average is $12.10. 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 stock has a market cap of $2.56 billion, a P/E ratio of 57.35 and a beta of 2.01.

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 analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $630.27 million. During the same period last year, the business earned $0.18 EPS. Newmark Group’s quarterly revenue was up 8.1% compared to the same quarter last year. Sell-side analysts anticipate that Newmark Group, Inc. will post 1.15 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Friday, August 16th. Newmark Group’s payout ratio is currently 46.15%.

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.