Newmark Group, Inc. (NASDAQ:NMRK) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its position in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 11.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 841,768 shares of the company’s stock after selling 111,904 shares during the period. New York State Common Retirement Fund owned about 0.49% of Newmark Group worth $10,783,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NMRK. Geode Capital Management LLC lifted its position in shares of Newmark Group by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,554,867 shares of the company’s stock worth $55,216,000 after purchasing an additional 190,974 shares during the last quarter. State Street Corp lifted its holdings in Newmark Group by 7.8% during the 3rd quarter. State Street Corp now owns 3,426,682 shares of the company’s stock worth $53,216,000 after buying an additional 247,433 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Newmark Group by 44.9% during the 4th 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Newmark Group by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,152,232 shares of the company’s stock worth $33,424,000 after acquiring an additional 85,728 shares in the last quarter. Finally, Systematic Financial Management LP increased its holdings in shares of Newmark Group by 53.1% in the 3rd quarter. Systematic Financial Management LP now owns 1,421,985 shares of the company’s stock valued at $22,083,000 after acquiring an additional 493,050 shares during the last quarter. 58.42% of the stock is owned by hedge funds and other institutional investors.

Newmark Group Stock Down 1.2 %

Newmark Group stock opened at $13.99 on Tuesday. The company has a market capitalization of $2.39 billion, a P/E ratio of 39.97 and a beta of 1.99. 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 fifty-two week low of $9.44 and a fifty-two week high of $16.10. The stock has a 50-day simple moving average of $13.44 and a 200-day simple moving average of $14.24.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings data on Friday, February 14th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.07. The business had revenue of $888.30 million during the quarter, compared to the consensus estimate of $790.76 million. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The company’s revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 earnings per share. Equities research analysts expect that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.86%. The ex-dividend date is Monday, March 3rd. Newmark Group’s payout ratio is currently 34.29%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wolfe Research downgraded Newmark Group from an “outperform” rating to a “peer perform” rating in a report on Monday, November 25th. The Goldman Sachs Group began coverage on shares of Newmark Group in a research report on Friday, December 6th. They set a “buy” rating and a $19.00 price objective for the company.

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.