Tower Research Capital LLC TRC Purchases 3,070 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Tower Research Capital LLC TRC boosted its position in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 48.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,378 shares of the company’s stock after acquiring an additional 3,070 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Newmark Group were worth $120,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC lifted its position in shares of Newmark Group by 813.9% in the fourth quarter. Sterling Capital Management LLC now owns 4,149 shares of the company’s stock valued at $53,000 after buying an additional 3,695 shares during the last quarter. Assetmark Inc. boosted its position in Newmark Group by 43.5% during the fourth quarter. Assetmark Inc. now owns 8,585 shares of the company’s stock worth $110,000 after purchasing an additional 2,602 shares during the period. Optimize Financial Inc bought a new position in shares of Newmark Group in the fourth quarter valued at about $132,000. Highland Capital Management LLC acquired a new stake in shares of Newmark Group during the 4th quarter worth about $135,000. Finally, Cibc World Markets Corp bought a new stake in shares of Newmark Group during the 4th quarter worth about $158,000. Institutional investors own 58.42% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Piper Sandler reduced their price target on Newmark Group from $19.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday. The Goldman Sachs Group reduced their target price on shares of Newmark Group from $19.50 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Newmark Group from $14.50 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd.

Newmark Group Stock Up 1.3 %

Shares of NASDAQ NMRK opened at $11.33 on Friday. The company’s 50 day moving average price is $11.60 and its 200-day moving average price is $13.31. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. Newmark Group, Inc. has a 52-week low of $9.64 and a 52-week high of $16.10. The company has a market capitalization of $2.04 billion, a P/E ratio of 32.36 and a beta of 1.99.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The firm had revenue of $665.49 million for the quarter, compared to analyst estimates of $609.28 million. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The company’s revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 earnings per share. Equities analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.12 dividend on an annualized basis and a yield of 1.06%. Newmark Group’s dividend payout ratio (DPR) is presently 30.77%.

About Newmark Group

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.