Newmark Group, Inc. (NASDAQ:NMRK) Position Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK – Get Rating) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,577 shares of the company’s stock after selling 2,836 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Newmark Group were worth $318,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. CX Institutional bought a new position in shares of Newmark Group during the second quarter worth about $619,000. Brandywine Global Investment Management LLC raised its stake in Newmark Group by 63.8% during the second quarter. Brandywine Global Investment Management LLC now owns 421,096 shares of the company’s stock worth $4,072,000 after acquiring an additional 163,962 shares during the period. AlphaCrest Capital Management LLC acquired a new stake in Newmark Group during the second quarter worth about $3,584,000. Jennison Associates LLC raised its stake in Newmark Group by 41.8% during the second quarter. Jennison Associates LLC now owns 71,068 shares of the company’s stock worth $687,000 after acquiring an additional 20,940 shares during the period. Finally, Aptus Capital Advisors LLC acquired a new stake in Newmark Group during the second quarter worth about $838,000. Institutional investors own 55.36% of the company’s stock.

Newmark Group Price Performance

NASDAQ NMRK opened at $8.61 on Wednesday. Newmark Group, Inc. has a 12 month low of $7.41 and a 12 month high of $18.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.44 and a quick ratio of 0.44. The firm has a market capitalization of $1.48 billion, a PE ratio of 7.49 and a beta of 1.71. The company’s 50 day simple moving average is $8.32 and its 200 day simple moving average is $9.21.

Newmark Group (NASDAQ:NMRK – Get Rating) last issued its earnings results on Friday, October 28th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.13). The business had revenue of $664.65 million for the quarter, compared to the consensus estimate of $765.05 million. Newmark Group had a return on equity of 27.92% and a net margin of 7.34%. As a group, equities research analysts forecast that Newmark Group, Inc. will post 1.48 EPS for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Friday, November 11th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Wednesday, November 9th. Newmark Group’s payout ratio is 10.43%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NMRK. The Goldman Sachs Group lowered shares of Newmark Group from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $9.00 to $8.00 in a research note on Monday, December 12th. Piper Sandler dropped their price target on shares of Newmark Group to $10.00 in a research note on Thursday, October 13th. Raymond James dropped their price target on shares of Newmark Group from $13.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, January 20th. Finally, TheStreet lowered shares of Newmark Group from a “b-” rating to a “c+” rating in a research note on Tuesday, October 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.25.

Newmark Group Company Profile

(Get Rating)

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.