Tranquility Partners LLC Sells 938 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Tranquility Partners LLC trimmed its holdings in Newmark Group, Inc. (NASDAQ:NMRK) by 0.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 138,126 shares of the company’s stock after selling 938 shares during the quarter. Newmark Group comprises 0.8% of Tranquility Partners LLC’s portfolio, making the stock its 29th biggest holding. Tranquility Partners LLC owned about 0.08% of Newmark Group worth $2,145,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp bought a new position in shares of Newmark Group in the second quarter worth about $33,000. EntryPoint Capital LLC raised its position in Newmark Group by 35.5% in the 1st quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock worth $49,000 after purchasing an additional 1,159 shares during the last quarter. Assetmark Inc. acquired a new position in Newmark Group during the 3rd quarter worth $93,000. Black Diamond Financial LLC acquired a new position in Newmark Group during the 2nd quarter worth $102,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of Newmark Group in the 2nd quarter valued at $107,000. Institutional investors and hedge funds own 58.42% of the company’s stock.

Newmark Group Trading Up 1.5 %

Shares of NASDAQ NMRK opened at $15.35 on Tuesday. Newmark Group, Inc. has a twelve month low of $7.63 and a twelve month high of $16.10. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 51.17 and a beta of 2.01. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average is $15.06 and its 200-day moving average is $12.64.

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

Newmark Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.78%. Newmark Group’s payout ratio is 40.00%.

Analyst Ratings Changes

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

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.