BidaskClub lowered shares of NewStar Financial (NASDAQ:NEWS) from a buy rating to a hold rating in a research report released on Wednesday.
Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of NewStar Financial from a buy rating to a hold rating in a research note on Tuesday, August 8th. Janney Montgomery Scott lowered shares of NewStar Financial from a buy rating to a neutral rating in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. NewStar Financial currently has an average rating of Hold and a consensus target price of $11.50.
NewStar Financial (NASDAQ:NEWS) traded up $0.06 during trading hours on Wednesday, hitting $11.83. 120,400 shares of the stock traded hands, compared to its average volume of 122,006. The company has a market cap of $489.11, a price-to-earnings ratio of 25.04 and a beta of 2.10. The company has a quick ratio of 9.21, a current ratio of 10.24 and a debt-to-equity ratio of 4.55. NewStar Financial has a 12 month low of $8.42 and a 12 month high of $12.59.
A number of hedge funds have recently made changes to their positions in NEWS. Voya Investment Management LLC increased its stake in NewStar Financial by 19.0% during the 2nd quarter. Voya Investment Management LLC now owns 15,293 shares of the credit services provider’s stock valued at $161,000 after purchasing an additional 2,444 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in NewStar Financial by 13.5% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 17,046 shares of the credit services provider’s stock valued at $180,000 after purchasing an additional 2,021 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in NewStar Financial during the 2nd quarter valued at $202,000. First Trust Advisors LP bought a new stake in NewStar Financial during the 3rd quarter valued at $220,000. Finally, Parametric Portfolio Associates LLC increased its stake in NewStar Financial by 41.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 24,769 shares of the credit services provider’s stock valued at $260,000 after purchasing an additional 7,265 shares in the last quarter. Institutional investors and hedge funds own 73.84% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “NewStar Financial (NEWS) Downgraded to Hold at BidaskClub” was reported by Ticker Report and is owned by of Ticker Report. If you are reading this piece on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The original version of this piece can be accessed at https://www.tickerreport.com/banking-finance/3080159/newstar-financial-news-downgraded-to-hold-at-bidaskclub.html.
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.
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.