Tranquility Partners LLC Sells 938 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Tranquility Partners LLC cut its position in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 0.7% in the third quarter, Holdings Channel reports. The institutional investor owned 138,126 shares of the company’s stock after selling 938 shares during the period. Newmark Group comprises 0.8% of Tranquility Partners LLC’s portfolio, making the stock its 29th biggest holding. Tranquility Partners LLC’s holdings in Newmark Group were worth $2,145,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of NMRK. Assenagon Asset Management S.A. boosted its position in Newmark Group by 251.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock worth $7,246,000 after acquiring an additional 506,510 shares during the last quarter. Systematic Financial Management LP boosted its holdings in Newmark Group by 11.9% during the second quarter. Systematic Financial Management LP now owns 928,935 shares of the company’s stock worth $9,503,000 after purchasing an additional 98,532 shares during the last quarter. Algert Global LLC grew its position in Newmark Group by 89.5% in the second quarter. Algert Global LLC now owns 144,978 shares of the company’s stock valued at $1,483,000 after purchasing an additional 68,468 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Newmark Group by 104.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 120,535 shares of the company’s stock valued at $1,872,000 after buying an additional 61,563 shares during the last quarter. Finally, Miller Howard Investments Inc. NY lifted its position in Newmark Group by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 35,091 shares of the company’s stock worth $359,000 after buying an additional 823 shares in the last quarter. 58.42% of the stock is currently owned by institutional investors.

Newmark Group Stock Performance

Shares of NMRK stock opened at $15.35 on Tuesday. The stock has a market cap of $2.63 billion, a P/E ratio of 51.17 and a beta of 2.01. The company has a fifty day moving average price of $15.06 and a two-hundred day moving average price of $12.64. Newmark Group, Inc. has a one year low of $7.63 and a one year high of $16.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $685.90 million during the quarter, compared to analysts’ expectations of $682.07 million. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. Newmark Group’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company posted $0.27 earnings per share. As a group, equities analysts predict that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a $0.03 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.12 annualized dividend and a yield of 0.78%. Newmark Group’s dividend payout ratio (DPR) is presently 40.00%.

Wall Street Analysts Forecast Growth

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