Parametric Portfolio Associates LLC boosted its stake in shares of NewStar Financial, Inc. (NASDAQ:NEWS) by 69.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,504 shares of the credit services provider’s stock after buying an additional 7,198 shares during the period. Parametric Portfolio Associates LLC’s holdings in NewStar Financial were worth $185,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Swiss National Bank raised its position in shares of NewStar Financial by 24.0% in the first quarter. Swiss National Bank now owns 34,600 shares of the credit services provider’s stock valued at $366,000 after buying an additional 6,700 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of NewStar Financial by 7.6% in the first quarter. Bank of New York Mellon Corp now owns 108,880 shares of the credit services provider’s stock valued at $1,152,000 after buying an additional 7,713 shares in the last quarter. Algert Global LLC purchased a new position in shares of NewStar Financial during the first quarter valued at approximately $123,000. LSV Asset Management purchased a new position in shares of NewStar Financial during the first quarter valued at approximately $287,000. Finally, Wells Fargo & Company MN raised its position in shares of NewStar Financial by 67.9% in the first quarter. Wells Fargo & Company MN now owns 24,767 shares of the credit services provider’s stock valued at $262,000 after buying an additional 10,019 shares in the last quarter. 74.58% of the stock is owned by institutional investors and hedge funds.
NewStar Financial, Inc. (NEWS) opened at 10.86 on Friday. The stock’s 50 day moving average price is $10.82 and its 200 day moving average price is $10.25. NewStar Financial, Inc. has a one year low of $8.03 and a one year high of $11.49. The company has a market capitalization of $451.85 million, a P/E ratio of 19.60 and a beta of 2.03.
NewStar Financial (NASDAQ:NEWS) last released its quarterly earnings results on Wednesday, August 2nd. The credit services provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by $0.05. NewStar Financial had a net margin of 8.65% and a return on equity of 3.76%. The business had revenue of $20.19 million during the quarter, compared to analysts’ expectations of $24.32 million. Equities analysts anticipate that NewStar Financial, Inc. will post $0.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Friday, August 25th. NewStar Financial’s dividend payout ratio (DPR) is presently 14.55%.
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Several brokerages have commented on NEWS. BidaskClub lowered NewStar Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Zacks Investment Research lowered NewStar Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, ValuEngine lowered NewStar Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Four research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of $11.50.
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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