L.K. Benson & Company P.C. Buys Shares of 31,108 Newmark Group, Inc. (NASDAQ:NMRK)

L.K. Benson & Company P.C. purchased a new stake in Newmark Group, Inc. (NASDAQ:NMRK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 31,108 shares of the company’s stock, valued at approximately $398,000.

Several other large investors also recently made changes to their positions in NMRK. Geode Capital Management LLC increased its position in Newmark Group by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,554,867 shares of the company’s stock valued at $55,216,000 after acquiring an additional 190,974 shares during the period. State Street Corp increased its holdings in shares of Newmark Group by 7.8% during the third quarter. State Street Corp now owns 3,426,682 shares of the company’s stock valued at $53,216,000 after purchasing an additional 247,433 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Newmark Group by 44.9% during the fourth quarter. Principal Financial Group Inc. now owns 3,098,429 shares of the company’s stock valued at $39,691,000 after purchasing an additional 960,799 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Newmark Group by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,152,232 shares of the company’s stock valued at $33,424,000 after purchasing an additional 85,728 shares in the last quarter. Finally, Systematic Financial Management LP grew its position in Newmark Group by 53.1% in the 3rd quarter. Systematic Financial Management LP now owns 1,421,985 shares of the company’s stock valued at $22,083,000 after buying an additional 493,050 shares in the last quarter. Institutional investors and hedge funds own 58.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NMRK. The Goldman Sachs Group initiated coverage on shares of Newmark Group in a research report on Friday, December 6th. They set a “buy” rating and a $19.00 price target on the stock. Wolfe Research downgraded Newmark Group from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 25th.

Newmark Group Stock Performance

NASDAQ:NMRK opened at $12.28 on Wednesday. The company has a 50-day moving average of $13.56 and a 200-day moving average of $14.28. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 35.09 and a beta of 1.96. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. Newmark Group, Inc. has a twelve month low of $9.44 and a twelve month high of $16.10.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings results on Friday, February 14th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.07. The firm had revenue of $888.30 million for the quarter, compared to analyst estimates of $790.76 million. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. Analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Monday, March 3rd. Newmark Group’s dividend payout ratio is 34.29%.

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.