Denali Advisors LLC Cuts Stock Position in Newmark Group, Inc. (NASDAQ:NMRK)

Denali Advisors LLC trimmed its position in Newmark Group, Inc. (NASDAQ:NMRK) by 7.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 469,729 shares of the company’s stock after selling 36,800 shares during the period. Newmark Group makes up about 1.5% of Denali Advisors LLC’s holdings, making the stock its 11th biggest position. Denali Advisors LLC owned approximately 0.27% of Newmark Group worth $5,209,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NMRK. Dimensional Fund Advisors LP raised its position in Newmark Group by 10.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,220,485 shares of the company’s stock worth $68,178,000 after acquiring an additional 570,935 shares in the last quarter. Paulson & CO. Inc. lifted its holdings in shares of Newmark Group by 133.5% in the fourth quarter. Paulson & CO. Inc. now owns 3,000,000 shares of the company’s stock valued at $32,880,000 after purchasing an additional 1,715,375 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Newmark Group by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,969,167 shares of the company’s stock worth $21,582,000 after purchasing an additional 81,209 shares during the last quarter. American Century Companies Inc. grew its holdings in Newmark Group by 410.2% during the 3rd quarter. American Century Companies Inc. now owns 1,672,287 shares of the company’s stock valued at $10,753,000 after buying an additional 1,344,514 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its position in Newmark Group by 4.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,311,813 shares of the company’s stock worth $14,377,000 after buying an additional 54,909 shares in the last quarter. 58.42% of the stock is owned by institutional investors and hedge funds.

Newmark Group Stock Up 2.1 %

NMRK traded up $0.21 during trading on Wednesday, hitting $10.23. The company had a trading volume of 283,316 shares, compared to its average volume of 1,019,533. The company has a market cap of $1.76 billion, a PE ratio of 46.50 and a beta of 2.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.56 and a quick ratio of 0.56. Newmark Group, Inc. has a 1-year low of $5.09 and a 1-year high of $11.51. The business has a 50-day moving average of $10.14 and a 200-day moving average of $10.34.

Newmark Group (NASDAQ:NMRK) last issued its earnings results on Friday, May 3rd. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Newmark Group had a net margin of 1.47% and a return on equity of 17.03%. The company had revenue of $546.50 million during the quarter, compared to analyst estimates of $526.07 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. As a group, analysts forecast that Newmark Group, Inc. will post 1.12 earnings per share for the current year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.17%. The ex-dividend date was Thursday, May 16th. Newmark Group’s payout ratio is currently 54.55%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reiterated an “overweight” rating and set a $13.00 target price on shares of Newmark Group in a research report on Tuesday, March 26th.

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.