Intech Investment Management LLC Makes New $819,000 Investment in Newmark Group, Inc. (NASDAQ:NMRK)

Intech Investment Management LLC bought a new stake in Newmark Group, Inc. (NASDAQ:NMRK) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 52,756 shares of the company’s stock, valued at approximately $819,000.

Other large investors have also modified their holdings of the company. Miller Howard Investments Inc. NY increased its holdings in shares of Newmark Group by 2.4% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 35,091 shares of the company’s stock valued at $359,000 after acquiring an additional 823 shares during the last quarter. Diversified Trust Co raised 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 purchasing an additional 1,080 shares during the period. Creative Planning lifted its position in shares of Newmark Group by 3.0% in the 2nd quarter. Creative Planning now owns 39,393 shares of the company’s stock worth $403,000 after buying an additional 1,131 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Newmark Group by 6.1% in the 2nd quarter. Hsbc Holdings PLC now owns 24,870 shares of the company’s stock worth $253,000 after buying an additional 1,420 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Newmark Group by 21.0% during the 2nd quarter. Mackenzie Financial Corp now owns 12,389 shares of the company’s stock valued at $127,000 after buying an additional 2,153 shares during the last quarter. Institutional investors own 58.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NMRK. Piper Sandler lifted their target price on Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods upgraded Newmark Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $13.50 to $16.50 in a research report on Thursday, September 5th. Finally, Wolfe Research lowered Newmark Group from an “outperform” rating to a “peer perform” rating in a research report on Monday.

Newmark Group Price Performance

NASDAQ NMRK opened at $15.63 on Friday. The company has a 50-day moving average price of $15.15 and a two-hundred day moving average price of $12.93. Newmark Group, Inc. has a 52 week low of $7.80 and a 52 week high of $16.10. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 52.10 and a beta of 2.01. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $685.90 million during the quarter, compared to analyst estimates of $682.07 million. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 EPS. Analysts forecast that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, November 21st. Newmark Group’s dividend payout ratio is currently 40.00%.

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.