Assenagon Asset Management S.A. Invests $916,000 in Newmark Group, Inc. (NASDAQ:NMRK)

Assenagon Asset Management S.A. bought a new position in shares of Newmark Group, Inc. (NASDAQ:NMRKFree Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 75,280 shares of the company’s stock, valued at approximately $916,000.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Newmark Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 21,114,662 shares of the company’s stock worth $270,479,000 after buying an additional 83,094 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Newmark Group by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,374,705 shares of the company’s stock worth $81,660,000 after buying an additional 88,618 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Newmark Group by 44.9% during the fourth quarter. Principal Financial Group Inc. now owns 3,098,429 shares of the company’s stock worth $39,691,000 after buying an additional 960,799 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Newmark Group by 103.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,948,511 shares of the company’s stock worth $37,770,000 after buying an additional 1,502,372 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Newmark Group by 138.5% during the fourth quarter. Millennium Management LLC now owns 1,916,186 shares of the company’s stock worth $24,546,000 after buying an additional 1,112,610 shares in the last quarter. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Newmark Group Trading Up 0.7%

Shares of NMRK opened at $11.26 on Thursday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.50. Newmark Group, Inc. has a 12-month low of $9.64 and a 12-month high of $16.10. The firm has a 50-day moving average price of $11.05 and a 200 day moving average price of $12.54. The firm has a market capitalization of $2.08 billion, a P/E ratio of 28.87 and a beta of 1.94.

Newmark Group (NASDAQ:NMRKGet Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Newmark Group had a net margin of 2.39% and a return on equity of 21.85%. The firm had revenue of $665.49 million during the quarter, compared to analyst estimates of $609.28 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Newmark Group’s quarterly revenue was up 21.8% on a year-over-year basis. Sell-side analysts forecast 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 was paid on Thursday, May 29th. Shareholders of record on Wednesday, May 14th were given a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.12 dividend on an annualized basis and a yield of 1.07%. Newmark Group’s payout ratio is currently 30.77%.

Analyst Ratings Changes

NMRK has been the subject of a number of research reports. Keefe, Bruyette & Woods dropped their target price on shares of Newmark Group from $14.50 to $14.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Piper Sandler dropped 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. Wall Street Zen lowered shares of Newmark Group from a “buy” rating to a “hold” rating in a report on Friday, June 6th. Wolfe Research raised shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $14.00 price objective for the company in a report on Friday, May 23rd. Finally, The Goldman Sachs Group dropped 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.25.

View Our Latest Stock Analysis on NMRK

About Newmark Group

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Newmark Group (NASDAQ:NMRK)

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