Russell Investments Group Ltd. Buys Shares of 38,648 NewStar Financial, Inc. (NEWS)
Russell Investments Group Ltd. bought a new position in NewStar Financial, Inc. (NASDAQ:NEWS) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 38,648 shares of the credit services provider’s stock, valued at approximately $406,000. Russell Investments Group Ltd. owned 0.09% of NewStar Financial at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. KCG Holdings Inc. lifted its position in NewStar Financial by 38.5% during the 1st quarter. KCG Holdings Inc. now owns 15,196 shares of the credit services provider’s stock valued at $161,000 after acquiring an additional 4,228 shares during the period. Metropolitan Life Insurance Co. NY lifted its position in NewStar Financial by 13.5% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 17,046 shares of the credit services provider’s stock valued at $180,000 after acquiring an additional 2,021 shares during the period. Parametric Portfolio Associates LLC lifted its position in NewStar Financial by 69.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 17,504 shares of the credit services provider’s stock valued at $185,000 after acquiring an additional 7,198 shares during the period. Prudential Financial Inc. purchased a new position in NewStar Financial during the 1st quarter valued at about $213,000. Finally, Virginia Retirement Systems ET AL purchased a new position in NewStar Financial during the 1st quarter valued at about $258,000. 72.77% of the stock is owned by hedge funds and other institutional investors.
Shares of NewStar Financial, Inc. (NASDAQ NEWS) traded up 0.26% on Friday, reaching $11.40. 32,676 shares of the company were exchanged. NewStar Financial, Inc. has a 52 week low of $8.03 and a 52 week high of $11.49. The company’s 50-day moving average is $10.82 and its 200-day moving average is $10.48. The company has a market capitalization of $474.32 million, a price-to-earnings ratio of 20.58 and a beta of 2.04.
NewStar Financial (NASDAQ:NEWS) last released its quarterly earnings results on Wednesday, August 2nd. The credit services provider reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.05). The firm had revenue of $20.19 million for the quarter, compared to analysts’ expectations of $24.32 million. NewStar Financial had a net margin of 8.65% and a return on equity of 3.76%. On average, equities analysts expect that NewStar Financial, Inc. will post $0.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Friday, August 25th. NewStar Financial’s payout ratio is 14.55%.
NEWS has been the subject of a number of recent research reports. Zacks Investment Research raised shares of NewStar Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub raised shares of NewStar Financial from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Finally, ValuEngine cut shares of NewStar Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $11.50.
NewStar Financial Profile
NewStar Financial, Inc (NewStar) is a commercial finance company. The Company operates through two segments: Commercial Lending and Asset Management. The Commercial Lending segment represents its direct lending activities, which are focused on providing a range of flexible senior secured debt options to mid-sized companies.
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