NewStar Financial (NEWS) Downgraded to Hold at BidaskClub

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.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $0.08 annualized dividend and a dividend yield of 0.68%. NewStar Financial’s dividend payout ratio is currently 17.02%.

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.

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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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