Bridgefront Capital LLC Invests $122,000 in Newmark Group, Inc. (NASDAQ:NMRK)

Bridgefront Capital LLC purchased a new position in Newmark Group, Inc. (NASDAQ:NMRK – Get Rating) during the third quarter, HoldingsChannel.com reports. The fund purchased 15,129 shares of the company’s stock, valued at approximately $122,000.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Newmark Group by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 26,213,288 shares of the company’s stock worth $417,315,000 after buying an additional 1,309,242 shares during the last quarter. BlackRock Inc. lifted its position in shares of Newmark Group by 0.5% in the 1st quarter. BlackRock Inc. now owns 11,063,026 shares of the company’s stock worth $176,123,000 after buying an additional 50,137 shares during the last quarter. FMR LLC lifted its position in shares of Newmark Group by 6.3% in the 2nd quarter. FMR LLC now owns 4,694,777 shares of the company’s stock worth $45,399,000 after buying an additional 277,301 shares during the last quarter. River Road Asset Management LLC lifted its position in shares of Newmark Group by 2.6% in the 3rd quarter. River Road Asset Management LLC now owns 3,585,752 shares of the company’s stock worth $28,901,000 after buying an additional 90,846 shares during the last quarter. Finally, State Street Corp lifted its position in Newmark Group by 1.0% in the 2nd quarter. State Street Corp now owns 3,301,776 shares of the company’s stock valued at $31,928,000 after purchasing an additional 32,090 shares during the last quarter. 55.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on NMRK. Raymond James cut their price objective on shares of Newmark Group from $13.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, January 20th. The Goldman Sachs Group lifted their price objective on shares of Newmark Group from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Friday, February 17th.

Newmark Group Stock Down 5.7 %

NMRK stock opened at $6.66 on Friday. Newmark Group, Inc. has a 52 week low of $6.62 and a 52 week high of $16.50. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 14.48 and a beta of 1.71. The firm’s 50-day moving average is $8.27 and its two-hundred day moving average is $8.53. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.37.

Newmark Group (NASDAQ:NMRK – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Newmark Group had a return on equity of 22.68% and a net margin of 3.19%. The company had revenue of $607.30 million for the quarter, compared to the consensus estimate of $670.56 million. During the same quarter last year, the firm posted $0.65 earnings per share. The firm’s quarterly revenue was down 38.3% compared to the same quarter last year. On average, analysts forecast that Newmark Group, Inc. will post 1.26 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Stockholders of record on Friday, March 3rd were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.12 annualized dividend and a dividend yield of 1.80%. Newmark Group’s dividend payout ratio is currently 26.09%.

About Newmark Group

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Newmark Group Inc engages in the provision of commercial real estate services. It offers its services to commercial real estate tenants, investors, owners, occupiers, developers, leasing and corporate advisory, investment sales and real estate finance, consulting, origination and servicing of commercial mortgage loans, valuation, project and development management and property and facility management.