Empirical Asset Management LLC Invests $1.74 Million in Newmark Group, Inc. (NASDAQ:NMRK)

Empirical Asset Management LLC acquired a new stake in Newmark Group, Inc. (NASDAQ:NMRK) in the fourth quarter, Holdings Channel.com reports. The fund acquired 136,016 shares of the company’s stock, valued at approximately $1,742,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. grew its position in Newmark Group by 68.1% in the 2nd quarter. Victory Capital Management Inc. now owns 99,133 shares of the company’s stock valued at $1,014,000 after acquiring an additional 40,174 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Newmark Group by 19.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 14,526 shares of the company’s stock valued at $149,000 after purchasing an additional 2,324 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Newmark Group by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company’s stock valued at $68,399,000 after purchasing an additional 480,047 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Newmark Group by 78.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,818 shares of the company’s stock valued at $203,000 after purchasing an additional 8,729 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in Newmark Group by 6.1% during the 2nd quarter. Hsbc Holdings PLC now owns 24,870 shares of the company’s stock worth $253,000 after buying an additional 1,420 shares during the period. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Newmark Group Price Performance

Newmark Group stock opened at $13.29 on Friday. The stock has a market cap of $2.27 billion, a P/E ratio of 44.30 and a beta of 1.99. The company has a fifty day simple moving average of $14.08 and a 200-day simple moving average of $13.77. 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 12-month low of $9.44 and a 12-month high of $16.10.

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

Newmark Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.90%. Newmark Group’s payout ratio is currently 40.00%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NMRK. Wolfe Research cut shares of Newmark Group from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 25th. The Goldman Sachs Group began coverage on Newmark Group in a report on Friday, December 6th. They issued a “buy” rating and a $19.00 target price for the company.

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.