Oppenheimer Asset Management Inc. Sells 2,235 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Oppenheimer Asset Management Inc. decreased its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 15.4% in the third quarter, Holdings Channel.com reports. The firm owned 12,291 shares of the company’s stock after selling 2,235 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Newmark Group were worth $191,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NMRK. Fifth Third Bancorp bought a new stake in Newmark Group in the second quarter worth $33,000. EntryPoint Capital LLC grew its position in Newmark Group by 35.5% during the 1st quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock valued at $49,000 after purchasing an additional 1,159 shares during the last quarter. Assetmark Inc. bought a new stake in Newmark Group during the 3rd quarter valued at about $93,000. Black Diamond Financial LLC purchased a new position in Newmark Group in the second quarter worth about $102,000. Finally, Evergreen Capital Management LLC bought a new position in shares of Newmark Group in the second quarter worth approximately $107,000. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

Newmark Group Trading Down 2.8 %

NASDAQ:NMRK opened at $14.74 on Thursday. The company has a market cap of $2.52 billion, a PE ratio of 50.57 and a beta of 2.01. Newmark Group, Inc. has a 12 month low of $7.71 and a 12 month high of $16.10. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The company has a 50 day simple moving average of $15.09 and a two-hundred day simple moving average of $12.71.

Newmark Group (NASDAQ:NMRK) last posted its earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $685.90 million for the quarter, compared to the consensus estimate of $682.07 million. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. Newmark Group’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 earnings per share. Research analysts forecast that Newmark Group, Inc. will post 1.15 earnings per share for the current year.

Newmark Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.12 annualized dividend and a yield of 0.81%. Newmark Group’s dividend payout ratio (DPR) is 40.00%.

Analyst Ratings Changes

A number of brokerages recently weighed in on NMRK. Piper Sandler boosted their price objective 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 Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price target for the company in a research note on Friday, August 16th. Finally, Keefe, Bruyette & Woods upgraded Newmark Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $13.50 to $16.50 in a report on Thursday, September 5th.

Newmark Group 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.