Empowered Funds LLC Purchases 38,195 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Empowered Funds LLC lifted its position in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 5.4% in the third quarter, HoldingsChannel reports. The fund owned 749,118 shares of the company’s stock after buying an additional 38,195 shares during the period. Empowered Funds LLC’s holdings in Newmark Group were worth $11,634,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NMRK. OneDigital Investment Advisors LLC acquired a new stake in shares of Newmark Group during the third quarter worth $178,000. Victory Capital Management Inc. grew its stake in shares of Newmark Group by 7.1% during the third quarter. Victory Capital Management Inc. now owns 106,138 shares of the company’s stock worth $1,648,000 after purchasing an additional 7,005 shares during the period. Assetmark Inc. acquired a new stake in shares of Newmark Group during the third quarter worth $93,000. Principal Financial Group Inc. grew its stake in shares of Newmark Group by 1,017.4% during the third quarter. Principal Financial Group Inc. now owns 2,137,630 shares of the company’s stock worth $33,197,000 after purchasing an additional 1,946,322 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Newmark Group by 249.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 16,484 shares of the company’s stock worth $254,000 after purchasing an additional 11,765 shares during the period. Institutional investors own 58.42% of the company’s stock.

Newmark Group Trading Down 0.3 %

NASDAQ:NMRK traded down $0.04 on Friday, reaching $15.22. The company’s stock had a trading volume of 56,769 shares, compared to its average volume of 1,153,087. Newmark Group, Inc. has a 1-year low of $7.63 and a 1-year high of $16.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.49 and a current ratio of 0.42. The firm has a market cap of $2.62 billion, a PE ratio of 50.87 and a beta of 2.01. The business’s 50-day moving average price is $15.02 and its two-hundred day moving average price is $12.54.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $685.90 million for the quarter, compared to analyst estimates of $682.07 million. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. Equities research analysts anticipate that Newmark Group, Inc. will post 1.15 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a dividend of $0.03 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.12 annualized dividend and a yield of 0.79%. Newmark Group’s payout ratio is presently 40.00%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NMRK. Keefe, Bruyette & Woods raised Newmark Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $13.50 to $16.50 in a research note on Thursday, September 5th. Wolfe Research raised Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 target price for the company in a research note on Friday, August 16th. Finally, Piper Sandler boosted their target price on Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a research note 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.