SG Americas Securities LLC purchased a new stake in NewStar Financial Inc (NASDAQ:NEWS) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 45,277 shares of the credit services provider’s stock, valued at approximately $532,000. SG Americas Securities LLC owned approximately 0.11% of NewStar Financial as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in NEWS. TIAA CREF Investment Management LLC raised its position in NewStar Financial by 26.7% during the 1st quarter. TIAA CREF Investment Management LLC now owns 94,471 shares of the credit services provider’s stock worth $1,000,000 after buying an additional 19,936 shares during the last quarter. Bank of America Corp DE grew its stake in shares of NewStar Financial by 3.1% during the 1st quarter. Bank of America Corp DE now owns 57,239 shares of the credit services provider’s stock worth $606,000 after purchasing an additional 1,697 shares during the period. Metropolitan Life Insurance Co. NY grew its stake in shares of 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 worth $180,000 after purchasing an additional 2,021 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of NewStar Financial by 19.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 25,382 shares of the credit services provider’s stock worth $269,000 after purchasing an additional 4,074 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in shares of NewStar Financial during the 2nd quarter worth approximately $406,000. Institutional investors and hedge funds own 73.35% of the company’s stock.
NEWS has been the topic of a number of research analyst reports. BidaskClub cut shares of NewStar Financial from a “hold” rating to a “sell” rating in a research note on Saturday, December 16th. Janney Montgomery Scott cut shares of NewStar Financial from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 17th. Finally, Zacks Investment Research cut shares of NewStar Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 4th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $11.50.
Shares of NewStar Financial Inc (NASDAQ NEWS) traded up $0.26 on Tuesday, reaching $11.98. 6,516,200 shares of the company traded hands, compared to its average volume of 163,104. The company has a debt-to-equity ratio of 4.55, a quick ratio of 9.21 and a current ratio of 10.24. The stock has a market cap of $497.83, a price-to-earnings ratio of 119.80 and a beta of 2.09. NewStar Financial Inc has a 12-month low of $8.54 and a 12-month high of $12.59.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $0.08 dividend on an annualized basis and a yield of 0.67%. NewStar Financial’s dividend payout ratio (DPR) is presently 80.00%.
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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