Northwestern Mutual Investment Management Company LLC Holds Stake in NewStar Financial Inc. (NEWS)
Northwestern Mutual Investment Management Company LLC maintained its position in shares of NewStar Financial Inc. (NASDAQ:NEWS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,555,459 shares of the company’s stock at the end of the second quarter. Northwestern Mutual Investment Management Company LLC owned 3.33% of NewStar Financial worth $13,097,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in NEWS. Sippican Capital Advisors raised its stake in NewStar Financial by 11.5% in the second quarter. Sippican Capital Advisors now owns 239,158 shares of the company’s stock worth $2,014,000 after buying an additional 24,695 shares during the period. Kennedy Capital Management Inc. raised its stake in NewStar Financial by 0.3% in the first quarter. Kennedy Capital Management Inc. now owns 302,028 shares of the company’s stock worth $2,643,000 after buying an additional 830 shares during the period. Wedge Capital Management L L P NC raised 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. California State Teachers Retirement System raised 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, Metropolitan Life Insurance Co. NY bought a new stake in NewStar Financial during the second quarter worth about $152,000. 77.57% of the stock is owned by institutional investors and hedge funds.
NewStar Financial Inc. (NASDAQ:NEWS) opened at 9.28 on Monday. The stock has a market capitalization of $410.24 million, a price-to-earnings ratio of 19.70 and a beta of 1.96. The company has a 50-day moving average price of $9.84 and a 200 day moving average price of $9.52. NewStar Financial Inc. has a 12 month low of $4.25 and a 12 month high of $11.37.
NewStar Financial (NASDAQ:NEWS) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.06. NewStar Financial had a return on equity of 3.34% and a net margin of 7.76%. The company had revenue of $36.20 million for the quarter, compared to analyst estimates of $21.55 million. Equities analysts predict that NewStar Financial Inc. will post $0.54 earnings per share for the current year.
NEWS has been the subject of a number of analyst reports. Zacks Investment Research upgraded NewStar Financial from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Saturday, November 5th. Keefe, Bruyette & Woods upped their price target on NewStar Financial from $10.00 to $11.00 and gave the company a “market perform” rating in a research report on Thursday, August 4th. Finally, TheStreet lowered NewStar Financial from a “hold” rating to a “sell” rating in a research report on Friday, September 9th.
In other NewStar Financial news, major shareholder Capital Z. Partners Iii Gp, Ltd sold 2,000,000 shares of NewStar Financial stock in a transaction that occurred on Friday, October 21st. The stock was sold at an average price of $8.93, for a total value of $17,860,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 9.55% of the stock is owned by company insiders.
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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