NewStar Financial, Inc. (NEWS) Lowered to “Neutral” at Janney Montgomery Scott
NewStar Financial, Inc. (NASDAQ:NEWS) was downgraded by investment analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a report released on Tuesday.
A number of other brokerages have also recently commented on NEWS. ValuEngine cut shares of NewStar Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered shares of NewStar Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, BidaskClub raised shares of NewStar Financial from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $11.50.
Shares of NewStar Financial (NEWS) traded up 0.66% during trading on Tuesday, reaching $12.21. The company had a trading volume of 1,045,825 shares. The stock has a market capitalization of $508.02 million, a price-to-earnings ratio of 22.04 and a beta of 2.06. The stock has a 50 day moving average of $11.35 and a 200 day moving average of $10.63. NewStar Financial has a 52-week low of $8.03 and a 52-week high of $12.51.
NewStar Financial (NASDAQ:NEWS) last announced its 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 business had revenue of $20.19 million for the quarter, compared to analyst estimates of $24.32 million. NewStar Financial had a return on equity of 3.76% and a net margin of 8.65%. Equities research analysts forecast that NewStar Financial will post $0.43 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. Corsair Capital LLC increased its position in NewStar Financial by 0.6% during the second quarter. Corsair Capital LLC now owns 4,263,075 shares of the credit services provider’s stock worth $44,762,000 after acquiring an additional 27,000 shares during the period. Dimensional Fund Advisors LP increased its position in NewStar Financial by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,590,665 shares of the credit services provider’s stock worth $27,202,000 after acquiring an additional 90,892 shares during the period. Oaktop Capital Management II L.P. bought a new position in NewStar Financial during the second quarter worth about $23,701,000. Vanguard Group Inc. increased its position in NewStar Financial by 1.2% during the second quarter. Vanguard Group Inc. now owns 1,724,687 shares of the credit services provider’s stock worth $18,109,000 after acquiring an additional 20,852 shares during the period. Finally, Jacobs Asset Management LLC increased its position in NewStar Financial by 24.3% during the second quarter. Jacobs Asset Management LLC now owns 1,514,390 shares of the credit services provider’s stock worth $15,901,000 after acquiring an additional 295,719 shares during the period. 72.77% of the stock is currently owned by institutional investors and hedge funds.
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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