Shares of NewStar Financial, Inc. (NASDAQ:NEWS) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $11.49 and last traded at $11.49, with a volume of 107,885 shares traded. The stock had previously closed at $11.18.
A number of brokerages have recently issued reports on NEWS. ValuEngine lowered NewStar Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered NewStar Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, BidaskClub raised NewStar Financial from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. NewStar Financial presently has an average rating of “Hold” and a consensus target price of $11.50.
The stock has a market capitalization of $473.07 million, a PE ratio of 20.52 and a beta of 2.04. The firm’s 50 day moving average is $10.82 and its 200 day moving average is $10.48.
NewStar Financial (NASDAQ:NEWS) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $24.32 million. On average, equities research analysts anticipate that NewStar Financial, Inc. will post $0.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 29th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Friday, August 25th. NewStar Financial’s dividend payout ratio (DPR) is presently 14.55%.
A number of large investors have recently bought and sold shares of NEWS. KCG Holdings Inc. raised its position in NewStar Financial by 38.5% in the first quarter. KCG Holdings Inc. now owns 15,196 shares of the credit services provider’s stock worth $161,000 after purchasing an additional 4,228 shares in the last quarter. Voya Investment Management LLC raised its position in NewStar Financial by 19.0% in the second quarter. Voya Investment Management LLC now owns 15,293 shares of the credit services provider’s stock worth $161,000 after purchasing an additional 2,444 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in 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 worth $180,000 after purchasing an additional 2,021 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in 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 worth $185,000 after purchasing an additional 7,198 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in NewStar Financial in the second quarter worth about $202,000. 72.77% of the stock is owned by hedge funds and other institutional investors.
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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