Doheny Asset Management CA bought a new position in Newmark Group Inc (NASDAQ:NMRK) in the 2nd quarter, Holdings Channel.com reports. The firm bought 226,747 shares of the company’s stock, valued at approximately $2,036,000. Newmark Group comprises approximately 1.7% of Doheny Asset Management CA’s holdings, making the stock its 23rd biggest holding.
Other large investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new position in Newmark Group in the second quarter worth $32,000. Glassman Wealth Services purchased a new position in Newmark Group in the second quarter worth $44,000. Coastal Investment Advisors Inc. purchased a new position in Newmark Group in the second quarter worth $43,000. Advisor Group Inc. purchased a new position in Newmark Group in the second quarter worth $83,000. Finally, CIBC Asset Management Inc purchased a new position in Newmark Group in the second quarter worth $97,000. Institutional investors own 57.29% of the company’s stock.
Shares of NASDAQ:NMRK opened at $10.11 on Friday. Newmark Group Inc has a 52-week low of $7.02 and a 52-week high of $11.88. The firm has a fifty day moving average of $9.06 and a 200 day moving average of $8.80. The firm has a market capitalization of $1.79 billion, a PE ratio of 6.50, a price-to-earnings-growth ratio of 0.71 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.46 and a current ratio of 0.46.
Newmark Group (NASDAQ:NMRK) last announced its earnings results on Thursday, August 1st. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. Newmark Group had a net margin of 5.69% and a return on equity of 40.30%. The company had revenue of $551.50 million during the quarter, compared to analyst estimates of $513.63 million. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, sell-side analysts forecast that Newmark Group Inc will post 1.64 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.10 per share. The ex-dividend date was Monday, August 19th. This represents a $0.40 annualized dividend and a yield of 3.96%. Newmark Group’s payout ratio is 26.32%.
Several research analysts recently issued reports on NMRK shares. Zacks Investment Research upgraded shares of Newmark Group from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Saturday, August 10th. Compass Point started coverage on shares of Newmark Group in a research report on Wednesday, July 10th. They issued a “buy” rating and a $14.00 target price for the company. Finally, ValuEngine upgraded shares of Newmark Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $14.00.
Newmark Group 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 Newmark Knight Frank name.
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