Lazard Asset Management LLC Acquires 15,480 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Lazard Asset Management LLC lifted its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 72.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,964 shares of the company’s stock after purchasing an additional 15,480 shares during the quarter. Lazard Asset Management LLC’s holdings in Newmark Group were worth $472,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Sterling Capital Management LLC increased its position in Newmark Group by 813.9% during the fourth quarter. Sterling Capital Management LLC now owns 4,149 shares of the company’s stock worth $53,000 after buying an additional 3,695 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Newmark Group by 43.5% during the 4th quarter. Assetmark Inc. now owns 8,585 shares of the company’s stock worth $110,000 after acquiring an additional 2,602 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Newmark Group by 48.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company’s stock valued at $120,000 after acquiring an additional 3,070 shares during the last quarter. Optimize Financial Inc bought a new position in shares of Newmark Group in the 4th quarter valued at approximately $132,000. Finally, Highland Capital Management LLC acquired a new stake in Newmark Group in the 4th quarter worth approximately $135,000. Institutional investors own 58.42% of the company’s stock.

Newmark Group Stock Down 9.7%

Shares of NMRK stock opened at $10.28 on Thursday. Newmark Group, Inc. has a 12 month low of $9.64 and a 12 month high of $16.10. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. The firm has a market cap of $1.90 billion, a PE ratio of 29.37 and a beta of 1.99. The stock has a 50 day moving average of $11.33 and a 200-day moving average of $13.09.

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

Newmark Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Wednesday, May 14th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Wednesday, May 14th. Newmark Group’s payout ratio is presently 30.77%.

Wall Street Analysts Forecast Growth

NMRK has been the topic of several analyst reports. Keefe, Bruyette & Woods lowered their price target on Newmark Group from $14.50 to $14.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Piper Sandler decreased their price objective on shares of Newmark Group from $19.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Finally, The Goldman Sachs Group dropped their target price on shares of Newmark Group from $19.50 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th.

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.