EJF Capital LLC acquired a new position in Newmark Group Inc (NASDAQ:NMRK) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,043,530 shares of the company’s stock, valued at approximately $27,331,000. Newmark Group accounts for 3.4% of EJF Capital LLC’s investment portfolio, making the stock its 7th largest position.
A number of other institutional investors have also recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC acquired a new stake in shares of Newmark Group during the 2nd quarter valued at $32,000. Glassman Wealth Services acquired a new stake in shares of Newmark Group during the 2nd quarter valued at $44,000. Coastal Investment Advisors Inc. acquired a new stake in shares of Newmark Group during the 2nd quarter valued at $43,000. Advisor Group Inc. acquired a new stake in shares of Newmark Group during the 2nd quarter valued at $83,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Newmark Group during the 2nd quarter valued at $97,000. 57.28% of the stock is owned by hedge funds and other institutional investors.
NMRK traded up $0.02 during trading on Thursday, hitting $9.66. The stock had a trading volume of 5,306 shares, compared to its average volume of 778,236. The firm has a market cap of $1.72 billion, a PE ratio of 6.35, a P/E/G ratio of 0.73 and a beta of 1.23. Newmark Group Inc has a 12 month low of $7.02 and a 12 month high of $11.58. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.63. The company has a 50 day simple moving average of $9.08 and a 200-day simple moving average of $8.81.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Tuesday, August 20th were given a $0.10 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.40 annualized dividend and a yield of 4.14%. Newmark Group’s dividend payout ratio is 26.32%.
A number of brokerages have issued reports on NMRK. Zacks Investment Research raised 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 note on Saturday, August 10th. ValuEngine upgraded shares of Newmark Group from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Compass Point initiated coverage on shares of Newmark Group in a report on Wednesday, July 10th. They set a “buy” rating and a $14.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average 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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