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

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Cibc World Markets Corp acquired a new position in Newmark Group in the 4th quarter worth $158,000. Inceptionr LLC increased its position in shares of Newmark Group by 21.7% during the fourth quarter. Inceptionr LLC now owns 25,976 shares of the company’s stock worth $333,000 after acquiring an additional 4,637 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Newmark Group in the fourth quarter worth about $4,785,000. Proficio Capital Partners LLC purchased a new position in Newmark Group in the fourth quarter valued at about $274,000. Finally, Assetmark Inc. grew its stake in Newmark Group by 43.5% during the 4th quarter. Assetmark Inc. now owns 8,585 shares of the company’s stock valued at $110,000 after purchasing an additional 2,602 shares in the last quarter. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NMRK has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on Newmark Group in a research note on Friday, December 6th. They set a “buy” rating and a $19.00 target price for the company. Wolfe Research downgraded shares of Newmark Group from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 25th.

Newmark Group Stock Performance

NMRK stock opened at $12.28 on Wednesday. The stock’s 50 day simple moving average is $13.56 and its 200 day simple moving average is $14.28. Newmark Group, Inc. has a 12-month low of $9.44 and a 12-month high of $16.10. The firm has a market cap of $2.22 billion, a P/E 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 (NASDAQ:NMRK) last issued its earnings results on Friday, February 14th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The company had revenue of $888.30 million for the quarter, compared to analysts’ expectations of $790.76 million. During the same period in the prior year, the company earned $0.46 earnings per share. The firm’s revenue was up 18.9% compared to the same quarter last year. As a group, equities research analysts predict that Newmark Group, Inc. will post 1.45 EPS for the current 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 (DPR) is presently 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.