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. “
Other equities research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods increased their price target on NewStar Financial from $10.00 to $11.00 and gave the company a “market perform” rating in a research note on Thursday, August 4th. TheStreet cut NewStar Financial from a “hold” rating to a “sell” rating in a research note on Friday, September 9th.
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’s 50-day moving average is $10.08 and its 200 day moving average is $9.37. The firm has a market cap of $464.30 million, a P/E ratio of 24.75 and a beta of 1.91.
NewStar Financial (NASDAQ:NEWS) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates 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. Equities research analysts expect that NewStar Financial will post $0.47 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY purchased a new position in NewStar Financial during the second quarter valued at $152,000. 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 during the last quarter. 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 during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in NewStar Financial by 0.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 236,304 shares of the company’s stock valued at $1,990,000 after buying an additional 943 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in NewStar Financial by 2.3% in the second quarter. BlackRock Fund Advisors now owns 633,487 shares of the company’s stock valued at $5,334,000 after buying an additional 13,954 shares during the last quarter. Hedge funds and other institutional investors own 77.46% of the company’s stock.
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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