Northwestern Mutual Investment Management Company LLC lessened its stake in shares of NewStar Financial, Inc. (NASDAQ:NEWS) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,555,459 shares of the credit services provider’s stock after selling 68,051 shares during the period. Northwestern Mutual Investment Management Company LLC owned approximately 3.77% of NewStar Financial worth $13,097,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Algert Global LLC purchased a new stake in NewStar Financial in the first quarter worth $123,000. KCG Holdings Inc. increased its stake 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 during the period. Metropolitan Life Insurance Co. NY increased its stake 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 during the period. Parametric Portfolio Associates LLC increased its stake 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 during the period. Finally, Prudential Financial Inc. purchased a new stake in NewStar Financial in the first quarter worth $213,000. Institutional investors and hedge funds own 72.77% of the company’s stock.
Shares of NewStar Financial, Inc. (NASDAQ:NEWS) traded up 1.65% during midday trading on Monday, reaching $11.09. The company had a trading volume of 10,261 shares. NewStar Financial, Inc. has a 52 week low of $8.03 and a 52 week high of $11.49. The company has a market capitalization of $461.42 million, a P/E ratio of 20.02 and a beta of 2.04. The company’s 50 day moving average price is $10.79 and its 200-day moving average price is $10.41.
NewStar Financial (NASDAQ:NEWS) last posted its quarterly earnings data on Wednesday, August 2nd. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $20.19 million during the quarter, compared to analysts’ expectations of $24.32 million. On average, equities research analysts predict that NewStar Financial, Inc. will post $0.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $0.08 annualized dividend and a yield of 0.73%. NewStar Financial’s dividend payout ratio (DPR) is 14.55%.
NEWS has been the topic of a number of recent analyst reports. BidaskClub upgraded NewStar Financial from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. ValuEngine upgraded NewStar Financial from a “hold” rating to a “buy” rating in a research note on Saturday, May 20th. Finally, Zacks Investment Research raised NewStar Financial from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Tuesday, July 11th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $11.50.
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About NewStar Financial
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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