NewStar Financial Inc. (NASDAQ:NEWS) saw a large drop in short interest in September. As of September 30th, there was short interest totalling 499,429 shares, a drop of 36.4% from the September 15th total of 785,053 shares. Approximately 2.7% of the shares of the company are short sold. Based on an average trading volume of 34,959 shares, the days-to-cover ratio is currently 14.3 days.
NEWS has been the subject of several research reports. Zacks Investment Research upgraded NewStar Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, July 6th. Keefe, Bruyette & Woods lifted their target price on NewStar Financial from $10.00 to $11.00 and gave the stock 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.
NewStar Financial (NASDAQ:NEWS) opened at 9.61 on Friday. The firm has a market cap of $448.43 million, a price-to-earnings ratio of 23.91 and a beta of 1.91. The company’s 50-day moving average price is $10.10 and its 200-day moving average price is $9.45. NewStar Financial has a 52-week low of $4.25 and a 52-week high of $11.37.
NewStar Financial (NASDAQ:NEWS) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by $0.04. NewStar Financial had a return on equity of 2.82% and a net margin of 6.97%. The company earned $25.30 million during the quarter, compared to analyst estimates of $24.40 million. Analysts predict that NewStar Financial will post $0.47 EPS for the current year.
Several hedge funds have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY bought a new stake in shares of NewStar Financial during the second quarter worth $152,000. Teachers Advisors Inc. boosted its position in NewStar Financial by 7.1% in the second quarter. Teachers Advisors Inc. now owns 37,949 shares of the company’s stock valued at $320,000 after buying an additional 2,508 shares in the last quarter. Alliancebernstein L.P. boosted its position in NewStar Financial by 5.9% in the second quarter. Alliancebernstein L.P. now owns 28,700 shares of the company’s stock valued at $242,000 after buying an additional 1,600 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in NewStar Financial by 0.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 236,304 shares of the company’s stock valued at $1,990,000 after buying an additional 943 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its position in NewStar Financial by 2.3% in the second quarter. BlackRock Fund Advisors now owns 633,487 shares of the company’s stock valued at $5,334,000 after buying an additional 13,954 shares in the last quarter. 77.46% of the stock is owned by institutional investors.
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.
Receive News & Ratings for NewStar Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NewStar Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.