Arrowstreet Capital Limited Partnership Has $37.77 Million Stock Holdings in Newmark Group, Inc. (NASDAQ:NMRK)

Arrowstreet Capital Limited Partnership grew its stake in Newmark Group, Inc. (NASDAQ:NMRK) by 103.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,948,511 shares of the company’s stock after purchasing an additional 1,502,372 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.72% of Newmark Group worth $37,770,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Newmark Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 21,114,662 shares of the company’s stock valued at $270,479,000 after buying an additional 83,094 shares during the period. Geode Capital Management LLC boosted its stake in Newmark Group by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,554,867 shares of the company’s stock worth $55,216,000 after acquiring an additional 190,974 shares during the last quarter. State Street Corp grew its holdings in Newmark Group by 7.8% during the third quarter. State Street Corp now owns 3,426,682 shares of the company’s stock valued at $53,216,000 after purchasing an additional 247,433 shares during the period. Principal Financial Group Inc. increased its stake in Newmark Group by 44.9% in the fourth quarter. Principal Financial Group Inc. now owns 3,098,429 shares of the company’s stock valued at $39,691,000 after purchasing an additional 960,799 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Newmark Group by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,152,232 shares of the company’s stock worth $33,424,000 after purchasing an additional 85,728 shares during the period. 58.42% of the stock is currently owned by institutional investors.

Newmark Group Stock Performance

Shares of NMRK opened at $12.35 on Thursday. The firm’s 50 day moving average price is $13.48 and its two-hundred day moving average price is $14.14. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. Newmark Group, Inc. has a twelve month low of $9.44 and a twelve month high of $16.10. The firm has a market cap of $2.23 billion, a P/E ratio of 35.29 and a beta of 1.96.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings data on Friday, February 14th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.48 by $0.07. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The business had revenue of $888.30 million for the quarter, compared to analysts’ expectations of $790.76 million. During the same period in the previous year, the firm posted $0.46 EPS. The firm’s revenue was up 18.9% compared to the same quarter last year. On average, analysts forecast that Newmark Group, Inc. will post 1.45 EPS for the current fiscal year.

Newmark Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Monday, March 3rd. Newmark Group’s dividend payout ratio is presently 34.29%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lowered their price objective on shares of Newmark Group from $19.50 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th.

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.