NewStar Financial Inc. (NEWS) Short Interest Up 55.3% in September
NewStar Financial Inc. (NASDAQ:NEWS) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totalling 785,053 shares, a growth of 55.3% from the August 31st total of 505,348 shares. Approximately 4.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 32,811 shares, the days-to-cover ratio is presently 23.9 days.
A number of brokerages recently issued reports on NEWS. TheStreet lowered shares of NewStar Financial from a “hold” rating to a “sell” rating in a report on Friday, September 9th. Keefe, Bruyette & Woods upped their price objective on shares of NewStar Financial from $10.00 to $11.00 and gave the company a “market perform” rating in a report on Thursday, August 4th. Finally, Zacks Investment Research raised shares of NewStar Financial from a “sell” rating to a “hold” rating in a report on Wednesday, July 6th.
Shares of NewStar Financial (NASDAQ:NEWS) opened at 9.95 on Wednesday. The stock has a market cap of $464.30 million, a price-to-earnings ratio of 24.75 and a beta of 1.91. NewStar Financial has a one year low of $4.25 and a one year high of $11.37. The company has a 50 day moving average of $10.08 and a 200-day moving average of $9.37.
NewStar Financial (NASDAQ:NEWS) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.04. NewStar Financial had a return on equity of 2.82% and a net margin of 6.97%. The company had revenue of $25.30 million for the quarter, compared to analyst estimates of $24.40 million. On average, analysts anticipate that NewStar Financial will post $0.47 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY acquired a new stake in NewStar Financial during the second quarter worth approximately $152,000. Alliancebernstein L.P. increased its stake in NewStar Financial by 5.9% in the second quarter. Alliancebernstein L.P. now owns 28,700 shares of the company’s stock worth $242,000 after buying an additional 1,600 shares during the period. Teachers Advisors Inc. increased its stake in NewStar Financial by 7.1% in the second quarter. Teachers Advisors Inc. now owns 37,949 shares of the company’s stock worth $320,000 after buying an additional 2,508 shares during the period. California State Teachers Retirement System increased its stake 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 worth $433,000 after buying an additional 259 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake 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 worth $367,000 after buying an additional 29,265 shares during the period. 77.46% of the stock is owned by institutional investors.
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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