NewStar Financial Inc. (NEWS) Upgraded to “Hold” at Zacks Investment Research
NewStar Financial Inc. (NASDAQ:NEWS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “NEWSTAR FINANCIAL INC is a specialized commercial finance company focused on meeting the complex financing needs of companies and private investors in the middle markets. The Company specializes in providing senior secured debt financing for the acquisition or recapitalization of mid-sized companies and commercial real estate. NewStar originates loans directly through a team of experienced, senior bankers organized around key industry and market segments. The Company targets ‘hold’ positions of up to $20 million and selectively underwrites or arranges larger transactions for syndication to other lenders. NewStar is headquartered in Boston, MA and has regional offices in Darien, CT, Chicago, IL, San Diego, CA, and Charleston, SC. “
Several other brokerages have also recently issued reports on NEWS. TheStreet cut NewStar Financial from a “hold” rating to a “sell” rating in a research report on Friday, September 9th. Keefe, Bruyette & Woods boosted their price objective on NewStar Financial from $10.00 to $11.00 and gave the stock a “market perform” rating in a research report on Thursday, August 4th.
NewStar Financial (NASDAQ:NEWS) opened at 9.95 on Wednesday. NewStar Financial has a 12 month low of $4.25 and a 12 month high of $11.37. The company has a 50 day moving average price of $10.08 and a 200-day moving average price of $9.37. The company has a market cap of $464.30 million, a PE ratio of 24.75 and a beta of 1.91.
NewStar Financial (NASDAQ:NEWS) last announced its earnings results on Wednesday, August 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.04. The company had revenue of $25.30 million for the quarter, compared to analysts’ expectations of $24.40 million. NewStar Financial had a net margin of 6.97% and a return on equity of 2.82%. Equities analysts predict that NewStar Financial will post $0.47 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY acquired a new position in NewStar Financial during the second quarter valued at $152,000. Alliancebernstein L.P. boosted its position in NewStar Financial by 5.9% in the second quarter. Alliancebernstein L.P. now owns 28,700 shares of the company’s stock valued at $242,000 after buying an additional 1,600 shares in the last quarter. Teachers Advisors Inc. boosted its position in NewStar Financial by 7.1% in the second quarter. Teachers Advisors Inc. now owns 37,949 shares of the company’s stock valued at $320,000 after buying an additional 2,508 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in NewStar Financial by 85.8% in the second quarter. Wedge Capital Management L L P NC now owns 63,365 shares of the company’s stock valued at $367,000 after buying an additional 29,265 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in NewStar Financial by 0.5% in the second quarter. California State Teachers Retirement System now owns 51,403 shares of the company’s stock valued at $433,000 after buying an additional 259 shares in the last quarter. 77.46% of the stock is currently owned by institutional investors and hedge funds.
NewStar Financial Company Profile
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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