Raymond James & Associates Trims Stake in Newmark Group, Inc. (NASDAQ:NMRK)

Raymond James & Associates lowered its stake in Newmark Group, Inc. (NASDAQ:NMRK – Get Rating) by 8.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 755,806 shares of the company’s stock after selling 65,550 shares during the period. Raymond James & Associates’ holdings in Newmark Group were worth $6,024,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NMRK. Ronald Blue Trust Inc. raised its stake in Newmark Group by 217.9% in the 4th quarter. Ronald Blue Trust Inc. now owns 4,415 shares of the company’s stock valued at $36,000 after purchasing an additional 3,026 shares during the last quarter. Captrust Financial Advisors raised its holdings in Newmark Group by 44.0% in the 2nd quarter. Captrust Financial Advisors now owns 3,849 shares of the company’s stock valued at $37,000 after acquiring an additional 1,176 shares during the last quarter. Great West Life Assurance Co. Can purchased a new stake in Newmark Group in the 3rd quarter valued at about $84,000. Alterna Wealth Management Inc. purchased a new stake in Newmark Group in the 3rd quarter valued at about $84,000. Finally, Royce & Associates LP purchased a new stake in Newmark Group in the 3rd quarter valued at about $86,000. Hedge funds and other institutional investors own 55.36% of the company’s stock.

Newmark Group Price Performance

Newmark Group stock opened at $5.93 on Monday. Newmark Group, Inc. has a 52-week low of $5.07 and a 52-week high of $11.93. The firm has a fifty day moving average of $6.37 and a 200-day moving average of $7.62. The firm has a market capitalization of $1.03 billion, a P/E ratio of 14.83 and a beta of 1.70. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.52.

Newmark Group (NASDAQ:NMRK – Get Rating) last released its quarterly earnings data on Friday, May 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.02). Newmark Group had a return on equity of 19.56% and a net margin of 2.96%. The business had revenue of $520.80 million during the quarter, compared to analyst estimates of $514.07 million. During the same period in the previous year, the company earned $0.36 EPS. Newmark Group’s revenue was down 23.2% on a year-over-year basis. As a group, analysts predict that Newmark Group, Inc. will post 1.1 EPS for the current year.

Newmark Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Stockholders of record on Friday, May 19th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $0.12 annualized dividend and a dividend yield of 2.02%. Newmark Group’s dividend payout ratio (DPR) is presently 30.00%.

Analyst Ratings Changes

Several analysts have commented on the company. The Goldman Sachs Group lowered their price target on Newmark Group from $9.00 to $6.25 and set a “sell” rating for the company in a report on Monday, April 10th. Piper Sandler decreased their price target on shares of Newmark Group from $9.00 to $6.50 in a report on Monday, May 8th.

Newmark Group Company Profile

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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.