Robertson Stephens Wealth Management LLC Buys 5,186 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Robertson Stephens Wealth Management LLC grew its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 1.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 319,185 shares of the company’s stock after acquiring an additional 5,186 shares during the period. Robertson Stephens Wealth Management LLC owned about 0.19% of Newmark Group worth $4,089,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NMRK. Creative Planning raised its stake in shares of Newmark Group by 3.0% during the second quarter. Creative Planning now owns 39,393 shares of the company’s stock valued at $403,000 after acquiring an additional 1,131 shares in the last quarter. SG Americas Securities LLC bought a new position in Newmark Group in the third quarter worth approximately $112,000. Handelsbanken Fonder AB raised its stake in Newmark Group by 15.0% in the third quarter. Handelsbanken Fonder AB now owns 45,917 shares of the company’s stock worth $713,000 after buying an additional 6,000 shares in the last quarter. Diversified Trust Co raised its stake in Newmark Group by 29.8% in the third quarter. Diversified Trust Co now owns 31,573 shares of the company’s stock worth $490,000 after buying an additional 7,244 shares in the last quarter. Finally, Oliver Luxxe Assets LLC bought a new position in Newmark Group in the third quarter worth approximately $1,528,000. Institutional investors own 58.42% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Newmark Group Stock Performance

Shares of NMRK stock opened at $14.14 on Thursday. Newmark Group, Inc. has a 12-month low of $9.44 and a 12-month high of $16.10. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $13.74 and its 200-day simple moving average is $14.06. The company has a market cap of $2.42 billion, a PE ratio of 47.13 and a beta of 1.99.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Newmark Group had a net margin of 2.00% and a return on equity of 18.95%. The business had revenue of $685.90 million for the quarter, compared to analyst estimates of $682.07 million. During the same period last year, the business earned $0.27 EPS. The company’s revenue was up 11.3% on a year-over-year basis. Analysts expect that Newmark Group, Inc. will post 1.16 earnings per share for the current fiscal year.

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.