NewStar Financial Inc (NEWS) is Sippican Capital Advisors’ 8th Largest Position
Sippican Capital Advisors raised its position in shares of NewStar Financial Inc (NASDAQ:NEWS) by 11.5% during the second quarter, Holdings Channel reports. The institutional investor owned 239,158 shares of the company’s stock after buying an additional 24,695 shares during the period. NewStar Financial accounts for about 2.4% of Sippican Capital Advisors’ investment portfolio, making the stock its 8th largest position. Sippican Capital Advisors’ holdings in NewStar Financial were worth $2,014,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in NEWS. Goldman Sachs Group Inc. purchased a new stake in NewStar Financial during the first quarter valued at $100,000. Geode Capital Management LLC boosted its stake in NewStar Financial by 1.0% in the first quarter. Geode Capital Management LLC now owns 156,508 shares of the company’s stock valued at $1,369,000 after buying an additional 1,561 shares during the last quarter. Finally, Kennedy Capital Management Inc. boosted its stake in NewStar Financial by 0.3% in the first quarter. Kennedy Capital Management Inc. now owns 302,028 shares of the company’s stock valued at $2,643,000 after buying an additional 830 shares during the last quarter. Institutional investors own 77.46% of the company’s stock.
Shares of NewStar Financial Inc (NASDAQ:NEWS) traded up 0.49% during mid-day trading on Thursday, hitting $10.25. The stock had a trading volume of 37,188 shares. The stock has a market cap of $478.30 million, a P/E ratio of 25.50 and a beta of 1.82. NewStar Financial Inc has a 52-week low of $4.25 and a 52-week high of $11.37. The company’s 50 day moving average is $10.07 and its 200-day moving average is $9.26.
NewStar Financial (NASDAQ:NEWS) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.04. NewStar Financial had a net margin of 6.97% and a return on equity of 2.82%. The business earned $25.30 million during the quarter, compared to the consensus estimate of $24.40 million. On average, equities research analysts anticipate that NewStar Financial Inc will post $0.47 earnings per share for the current fiscal year.
Several research firms have weighed in on NEWS. Zacks Investment Research cut NewStar Financial from a “hold” rating to a “sell” rating in a research report on Friday, August 5th. Keefe, Bruyette & Woods lifted their price objective on NewStar Financial from $10.00 to $11.00 and gave the company a “market perform” rating in a research report on Thursday, August 4th. Finally, TheStreet cut NewStar Financial from a “hold” rating to a “sell” rating in a research report on Friday, September 9th.
About NewStar Financial
NewStar Financial, Inc (NewStar) is a commercial finance company with specialized lending platforms focused on meeting the financing needs of companies and private investors in the middle market. The Company and its wholly owned investment management subsidiary, NewStar Capital LLC, are registered investment advisors and provide asset management services to institutional investors.
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