Algert Global LLC Buys 93,160 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Algert Global LLC grew its stake in Newmark Group, Inc. (NASDAQ:NMRK) by 64.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 238,138 shares of the company’s stock after acquiring an additional 93,160 shares during the quarter. Algert Global LLC’s holdings in Newmark Group were worth $3,698,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of NMRK. Miller Howard Investments Inc. NY lifted its position in Newmark Group by 2.4% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 35,091 shares of the company’s stock valued at $359,000 after acquiring an additional 823 shares in the last quarter. Diversified Trust Co lifted its holdings in shares of Newmark Group by 4.6% during the second quarter. Diversified Trust Co now owns 24,329 shares of the company’s stock valued at $249,000 after purchasing an additional 1,080 shares in the last quarter. Creative Planning boosted its position in shares of Newmark Group by 3.0% during the second quarter. Creative Planning now owns 39,393 shares of the company’s stock valued at $403,000 after buying an additional 1,131 shares during the last quarter. EntryPoint Capital LLC increased its holdings in Newmark Group by 35.5% in the 1st quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock worth $49,000 after buying an additional 1,159 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in Newmark Group by 6.1% in the 2nd quarter. Hsbc Holdings PLC now owns 24,870 shares of the company’s stock worth $253,000 after buying an additional 1,420 shares during the last quarter. 58.42% of the stock is owned by hedge funds and other institutional investors.

Newmark Group Price Performance

Shares of NASDAQ:NMRK opened at $15.52 on Tuesday. 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 stock has a market capitalization of $2.66 billion, a PE ratio of 51.73 and a beta of 2.01. The firm’s 50 day moving average price is $15.11 and its 200-day moving average price is $12.82. Newmark Group, Inc. has a twelve month low of $7.73 and a twelve month high of $16.10.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. Newmark Group had a net margin of 2.00% and a return on equity of 18.95%. The business had revenue of $685.90 million for the quarter, compared to the consensus estimate of $682.07 million. During the same period last year, the firm earned $0.27 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. Equities research analysts expect that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Thursday, November 21st. Newmark Group’s dividend payout ratio is presently 40.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wolfe Research downgraded shares of Newmark Group from an “outperform” rating to a “peer perform” rating in a report on Monday. Keefe, Bruyette & Woods raised shares of Newmark Group from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $13.50 to $16.50 in a research report on Thursday, September 5th. Finally, Piper Sandler increased their price target on Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd.

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.