Los Angeles Capital Management & Equity Research Inc. Invests $202,000 in NewStar Financial, Inc. (NEWS)
Los Angeles Capital Management & Equity Research Inc. bought a new stake in NewStar Financial, Inc. (NASDAQ:NEWS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 19,270 shares of the credit services provider’s stock, valued at approximately $202,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NEWS. KCG Holdings Inc. lifted its stake in shares of NewStar Financial by 38.5% in the first quarter. KCG Holdings Inc. now owns 15,196 shares of the credit services provider’s stock valued at $161,000 after buying an additional 4,228 shares during the period. Metropolitan Life Insurance Co. NY lifted its stake in shares of NewStar Financial by 13.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 17,046 shares of the credit services provider’s stock valued at $180,000 after buying an additional 2,021 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of NewStar Financial by 69.8% in the first quarter. Parametric Portfolio Associates LLC now owns 17,504 shares of the credit services provider’s stock valued at $185,000 after buying an additional 7,198 shares during the period. Prudential Financial Inc. bought a new stake in shares of NewStar Financial in the first quarter valued at about $213,000. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of NewStar Financial in the first quarter valued at about $258,000. Institutional investors and hedge funds own 72.77% of the company’s stock.
Several equities research analysts recently weighed in on NEWS shares. Zacks Investment Research upgraded shares of NewStar Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub upgraded shares of NewStar Financial from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Finally, ValuEngine cut shares of NewStar Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Three equities research 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 an average price target of $11.50.
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Shares of NewStar Financial, Inc. (NASDAQ:NEWS) opened at 11.74 on Friday. The company has a 50 day moving average of $10.82 and a 200 day moving average of $10.48. NewStar Financial, Inc. has a 1-year low of $8.03 and a 1-year high of $11.91. The company has a market cap of $488.47 million, a PE ratio of 21.19 and a beta of 2.04.
NewStar Financial (NASDAQ:NEWS) last announced its quarterly earnings results on Wednesday, August 2nd. The credit services provider reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.05). NewStar Financial had a net margin of 8.65% and a return on equity of 3.76%. The company had revenue of $20.19 million during the quarter, compared to analyst estimates of $24.32 million. Equities analysts expect that NewStar Financial, Inc. will post $0.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 29th were paid a $0.02 dividend. The ex-dividend date was Friday, August 25th. This represents a $0.08 dividend on an annualized basis and a yield of 0.68%. NewStar Financial’s dividend payout ratio (DPR) is currently 14.55%.
NewStar Financial Company 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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