Allspring Global Investments Holdings LLC Raises Stake in Newmark Group, Inc. (NASDAQ:NMRK)

Allspring Global Investments Holdings LLC boosted its position in Newmark Group, Inc. (NASDAQ:NMRK) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,331 shares of the company’s stock after buying an additional 2,065 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Newmark Group were worth $365,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale boosted its position in Newmark Group by 76.5% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 12,641 shares of the company’s stock valued at $138,000 after buying an additional 5,480 shares during the last quarter. New York State Teachers Retirement System purchased a new stake in Newmark Group in the fourth quarter valued at approximately $135,000. Prime Capital Investment Advisors LLC boosted its position in Newmark Group by 10.9% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 16,789 shares of the company’s stock valued at $184,000 after buying an additional 1,647 shares during the last quarter. Denali Advisors LLC boosted its position in Newmark Group by 4.8% in the fourth quarter. Denali Advisors LLC now owns 506,529 shares of the company’s stock valued at $5,552,000 after buying an additional 23,080 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Newmark Group in the 4th quarter worth approximately $3,349,000. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on NMRK. Piper Sandler restated an “overweight” rating and issued a $13.00 price objective on shares of Newmark Group in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods upped their price objective on Newmark Group from $11.00 to $11.25 and gave the stock a “market perform” rating in a research report on Monday, February 26th.

Newmark Group Trading Up 1.0 %

Newmark Group stock opened at $9.76 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35. Newmark Group, Inc. has a 12 month low of $5.07 and a 12 month high of $11.51. The stock’s 50 day simple moving average is $10.54 and its two-hundred day simple moving average is $9.33. The firm has a market cap of $1.69 billion, a PE ratio of 39.04 and a beta of 1.97.

Newmark Group (NASDAQ:NMRK) last announced its earnings results on Thursday, February 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. Newmark Group had a return on equity of 17.03% and a net margin of 1.72%. The firm had revenue of $747.70 million for the quarter, compared to analyst estimates of $743.53 million. During the same quarter last year, the firm posted $0.32 EPS. Analysts anticipate that Newmark Group, Inc. will post 1.12 earnings per share for the current year.

Newmark Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $0.03 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.23%. Newmark Group’s dividend payout ratio (DPR) is 48.00%.

Newmark Group 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.