Newmark Group, Inc. (NASDAQ:NMRK) Position Trimmed by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its stake in Newmark Group, Inc. (NASDAQ:NMRK – Get Rating) by 16.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 139,778 shares of the company’s stock after selling 27,005 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.07% of Newmark Group worth $2,225,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. American Century Companies Inc. lifted its holdings in shares of Newmark Group by 13.1% during the fourth quarter. American Century Companies Inc. now owns 2,924,019 shares of the company’s stock valued at $54,679,000 after purchasing an additional 339,367 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Newmark Group by 6.3% in the 4th quarter. JPMorgan Chase & Co. now owns 849,794 shares of the company’s stock valued at $15,891,000 after acquiring an additional 50,107 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Newmark Group in the 4th quarter valued at approximately $7,228,000. Swiss National Bank raised its stake in shares of Newmark Group by 2.3% in the 4th quarter. Swiss National Bank now owns 383,607 shares of the company’s stock valued at $7,173,000 after acquiring an additional 8,500 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its stake in shares of Newmark Group by 290.7% in the 4th quarter. Allianz Asset Management GmbH now owns 337,454 shares of the company’s stock valued at $6,311,000 after acquiring an additional 251,093 shares in the last quarter. Institutional investors and hedge funds own 58.17% of the company’s stock.

Newmark Group Stock Performance

NMRK opened at $10.44 on Thursday. The stock has a market cap of $1.97 billion, a PE ratio of 6.40 and a beta of 1.77. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.35. Newmark Group, Inc. has a 1 year low of $8.66 and a 1 year high of $19.10. The stock’s 50 day simple moving average is $10.27 and its 200-day simple moving average is $13.15.

Newmark Group (NASDAQ:NMRK – Get Rating) last released its quarterly earnings data on Friday, July 29th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.10. The business had revenue of $755.40 million for the quarter, compared to analysts’ expectations of $670.04 million. Newmark Group had a return on equity of 29.54% and a net margin of 10.19%. Newmark Group’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 earnings per share. Sell-side analysts forecast that Newmark Group, Inc. will post 1.83 EPS for the current year.

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Monday, August 15th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.15%. The ex-dividend date is Friday, August 12th. Newmark Group’s dividend payout ratio is 7.36%.

Wall Street Analysts Forecast Growth

NMRK has been the topic of several recent analyst reports. Piper Sandler dropped their price target on Newmark Group to $11.00 in a research report on Monday, July 4th. Raymond James dropped their price target on Newmark Group from $21.00 to $18.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 26th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.00.

Insider Activity at Newmark Group

In related news, Chairman Howard W. Lutnick purchased 329,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 14th. The shares were acquired at an average price of $9.11 per share, with a total value of $2,997,190.00. Following the purchase, the chairman now directly owns 8,348,434 shares in the company, valued at $76,054,233.74. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Howard W. Lutnick purchased 277,000 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The shares were acquired at an average price of $10.83 per share, with a total value of $2,999,910.00. Following the purchase, the chairman now directly owns 8,019,434 shares in the company, valued at $86,850,470.22. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Howard W. Lutnick acquired 329,000 shares of Newmark Group stock in a transaction on Tuesday, June 14th. The stock was acquired at an average cost of $9.11 per share, for a total transaction of $2,997,190.00. Following the purchase, the chairman now owns 8,348,434 shares of the company’s stock, valued at approximately $76,054,233.74. The disclosure for this purchase can be found here. 27.10% of the stock is owned by insiders.

Newmark Group Company Profile

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Newmark Group, Inc provides commercial real estate services in the United States and internationally. The company's investor/owner services and products include capital markets, such as investment, debt and structured finance, and loan sales; agency leasing, property management, and valuation and advisory; and commercial real estate due diligence consulting and advisory services, as well as government sponsored enterprise lending, loan servicing, mortgage broking, and equity-raising services.

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