Harbour Capital Advisors LLC Makes New Investment in Newmark Group, Inc. (NASDAQ:NMRK)

by · The Markets Daily

Harbour Capital Advisors LLC bought a new position in shares of Newmark Group, Inc. (NASDAQ:NMRK – Free Report) during the third quarter, Holdings Channel reports. The fund bought 23,825 shares of the company’s stock, valued at approximately $348,000.

A number of other institutional investors also recently modified their holdings of the company. Miller Howard Investments Inc. NY boosted its stake in shares of Newmark Group by 2.4% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 35,091 shares of the company’s stock valued at $359,000 after purchasing an additional 823 shares during the last quarter. Diversified Trust Co boosted its stake in Newmark Group by 4.6% during the second quarter. Diversified Trust Co now owns 24,329 shares of the company’s stock worth $249,000 after acquiring an additional 1,080 shares in the last quarter. Creative Planning boosted its stake in Newmark Group by 3.0% during the second quarter. Creative Planning now owns 39,393 shares of the company’s stock worth $403,000 after acquiring an additional 1,131 shares in the last quarter. EntryPoint Capital LLC boosted its stake in Newmark Group by 35.5% during the first quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock worth $49,000 after acquiring an additional 1,159 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Newmark Group by 6.1% during the second quarter. Hsbc Holdings PLC now owns 24,870 shares of the company’s stock worth $253,000 after acquiring an additional 1,420 shares in the last quarter. 58.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of Newmark Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $13.50 to $16.50 in a research note on Thursday, September 5th. Wolfe Research raised shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 target price on the stock in a research note on Friday, August 16th. Finally, Piper Sandler increased their target price on shares of Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd.

Get Our Latest Stock Report on Newmark Group

Newmark Group Stock Performance

NMRK opened at $14.85 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49. The company’s fifty day moving average price is $14.35 and its two-hundred day moving average price is $11.91. Newmark Group, Inc. has a 1-year low of $5.09 and a 1-year high of $16.10. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 67.50 and a beta of 2.01.

Newmark Group (NASDAQ:NMRK – Get Free Report) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The firm had revenue of $633.40 million for the quarter, compared to the consensus estimate of $630.27 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. On average, analysts expect that Newmark Group, Inc. will post 1.15 EPS for the current fiscal year.

Newmark Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.12 annualized dividend and a dividend yield of 0.81%. Newmark Group’s dividend payout ratio is currently 54.55%.

Newmark Group Profile

(Free Report)

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.

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