Quest Partners LLC Invests $694,000 in Newmark Group, Inc. (NASDAQ:NMRK)

Quest Partners LLC acquired a new position in shares of Newmark Group, Inc. (NASDAQ:NMRK) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 63,301 shares of the company’s stock, valued at approximately $694,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NMRK. American Century Companies Inc. boosted its holdings in Newmark Group by 410.2% in the third quarter. American Century Companies Inc. now owns 1,672,287 shares of the company’s stock valued at $10,753,000 after purchasing an additional 1,344,514 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Newmark Group during the third quarter worth approximately $1,123,000. Assenagon Asset Management S.A. acquired a new stake in shares of Newmark Group in the 4th quarter worth $3,349,000. Dark Forest Capital Management LP purchased a new position in Newmark Group during the third quarter worth about $1,236,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Newmark Group in the 3rd quarter valued at approximately $44,000. 58.42% of the stock is owned by institutional investors and hedge funds.

Newmark Group Stock Performance

NMRK opened at $10.50 on Thursday. The stock has a market cap of $1.81 billion, a P/E ratio of 47.73 and a beta of 1.99. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s 50 day simple moving average is $10.39 and its 200 day simple moving average is $9.91. Newmark Group, Inc. has a 1-year low of $5.09 and a 1-year high of $11.51.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings results on Friday, May 3rd. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The firm had revenue of $546.50 million during the quarter, compared to analyst estimates of $526.07 million. Newmark Group had a return on equity of 17.03% and a net margin of 1.47%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. As a group, equities analysts anticipate that Newmark Group, Inc. will post 1.12 EPS for the current fiscal year.

Newmark Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Thursday, May 16th. Newmark Group’s dividend payout ratio is currently 54.55%.

Analyst Upgrades and Downgrades

NMRK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price target on Newmark Group from $11.00 to $11.25 and gave the company a “market perform” rating in a report on Monday, February 26th. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 price target on shares of Newmark Group in a research note on Tuesday, March 26th.

Newmark Group 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.