United Services Automobile Association raised its stake in shares of Newmark Group Inc (NASDAQ:NMRK) by 168.9% during the second quarter, HoldingsChannel reports. The firm owned 150,020 shares of the company’s stock after buying an additional 94,230 shares during the period. United Services Automobile Association’s holdings in Newmark Group were worth $2,135,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Citadel Advisors LLC bought a new stake in shares of Newmark Group during the 2nd quarter valued at $1,722,000. Motley Fool Asset Management LLC bought a new stake in shares of Newmark Group during the 2nd quarter valued at $2,105,000. Motley Fool Wealth Management LLC bought a new stake in shares of Newmark Group during the 2nd quarter valued at $2,763,000. BlackRock Inc. raised its position in shares of Newmark Group by 4.6% during the 2nd quarter. BlackRock Inc. now owns 3,077,689 shares of the company’s stock valued at $43,796,000 after acquiring an additional 135,117 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Newmark Group by 253.9% during the 2nd quarter. GSA Capital Partners LLP now owns 78,134 shares of the company’s stock valued at $1,112,000 after acquiring an additional 56,053 shares during the last quarter. 14.21% of the stock is currently owned by institutional investors.
NMRK opened at $12.73 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.51 and a quick ratio of 0.51. Newmark Group Inc has a 12 month low of $12.06 and a 12 month high of $16.98. The firm has a market capitalization of $1.94 billion and a P/E ratio of 11.07.
Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Thursday, August 2nd. The company reported $0.25 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.25. The firm had revenue of $466.62 million during the quarter, compared to the consensus estimate of $472.50 million. sell-side analysts forecast that Newmark Group Inc will post 1.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 5th. Investors of record on Monday, August 20th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, August 17th. Newmark Group’s dividend payout ratio is currently 31.30%.
Separately, Zacks Investment Research cut shares of Newmark Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 22nd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Newmark Group presently has an average rating of “Buy” and a consensus price target of $19.21.
Newmark Group Company Profile
Newmark Group, Inc provides commercial real estate services in the United States and internationally. Its investor/owner services and products include capital markets, such as investment sales; and agency leasing, property management, valuation and advisory, and diligence and underwriting, as well as government sponsored enterprise lending, loan servicing, debt and structured finance, and loan sales under the Berkeley Point and NKF Capital Markets names.
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