KDK Private Wealth Management LLC Invests $769,000 in Newmark Group, Inc. (NASDAQ:NMRK)

KDK Private Wealth Management LLC purchased a new stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) during the 4th quarter, Holdings Channel reports. The fund purchased 60,000 shares of the company’s stock, valued at approximately $769,000. Newmark Group comprises 0.8% of KDK Private Wealth Management LLC’s investment portfolio, making the stock its 25th biggest position.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Newmark Group by 1,017.4% in the 3rd quarter. Principal Financial Group Inc. now owns 2,137,630 shares of the company’s stock valued at $33,197,000 after purchasing an additional 1,946,322 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Newmark Group by 103.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,948,511 shares of the company’s stock valued at $37,770,000 after buying an additional 1,502,372 shares during the period. Wells Fargo & Company MN boosted its stake in Newmark Group by 851.7% in the fourth quarter. Wells Fargo & Company MN now owns 848,475 shares of the company’s stock valued at $10,869,000 after acquiring an additional 759,324 shares during the last quarter. Raymond James Financial Inc. bought a new position in Newmark Group in the fourth quarter valued at approximately $4,785,000. Finally, Norges Bank acquired a new stake in Newmark Group during the 4th quarter worth $3,307,000. Institutional investors own 58.42% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group reduced their price target on Newmark Group from $19.50 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th.

Newmark Group Stock Performance

Shares of NASDAQ:NMRK opened at $10.33 on Friday. The firm’s 50 day simple moving average is $12.95 and its 200 day simple moving average is $13.89. Newmark Group, Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $16.10. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 29.52 and a beta of 1.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42.

Newmark Group (NASDAQ:NMRK) last posted its earnings results on Friday, February 14th. The company reported $0.55 earnings per share for the quarter, topping 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 company had revenue of $888.30 million for the quarter, compared to analyst estimates of $790.76 million. During the same period last year, the business posted $0.46 earnings per share. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.03 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.12 dividend on an annualized basis and a yield of 1.16%. Newmark Group’s payout ratio is 34.29%.

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.