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

Tower Research Capital LLC TRC lifted its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 48.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,378 shares of the company’s stock after purchasing an additional 3,070 shares during the period. 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 made changes to their positions in the stock. MetLife Investment Management LLC lifted its stake in Newmark Group by 1.3% in the fourth quarter. MetLife Investment Management LLC now owns 79,900 shares of the company’s stock valued at $1,024,000 after purchasing an additional 1,035 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Newmark Group by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,374,705 shares of the company’s stock valued at $81,660,000 after buying an additional 88,618 shares during the period. Marshall Wace LLP purchased a new position in shares of Newmark Group during the 4th quarter valued at $2,153,000. Jump Financial LLC bought a new position in shares of Newmark Group during the 4th quarter worth $672,000. Finally, Walleye Capital LLC purchased a new stake in Newmark Group in the 4th quarter worth about $174,000. 58.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NMRK has been the subject of several analyst reports. The Goldman Sachs Group cut their price objective on shares of Newmark Group from $19.50 to $17.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Keefe, Bruyette & Woods cut their price target on Newmark Group from $14.50 to $14.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, Piper Sandler decreased their price objective on Newmark Group from $19.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday.

Newmark Group Price Performance

Shares of Newmark Group stock opened at $11.33 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42. Newmark Group, Inc. has a one year low of $9.64 and a one year high of $16.10. The business’s 50 day simple moving average is $11.60 and its two-hundred day simple moving average is $13.31. The stock 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 posted its earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The company had revenue of $665.49 million for the quarter, compared to analysts’ expectations of $609.28 million. During the same period last year, the firm earned $0.15 earnings per share. Newmark Group’s quarterly revenue was up 21.8% on a year-over-year basis. Analysts forecast that Newmark Group, Inc. will post 1.45 EPS for the current year.

Newmark Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Wednesday, May 14th. Newmark Group’s dividend payout ratio is currently 30.77%.

Newmark Group Company Profile

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.