NewStar Financial (NASDAQ:NEWS) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of NewStar Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Janney Montgomery Scott downgraded shares of NewStar Financial from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. NewStar Financial currently has an average rating of “Hold” and a consensus target price of $11.50.
NewStar Financial (NASDAQ:NEWS) opened at $11.77 on Wednesday. The firm has a market cap of $494.51, a P/E ratio of 25.32 and a beta of 2.10. NewStar Financial has a 52-week low of $8.42 and a 52-week high of $12.59. The company has a current ratio of 10.24, a quick ratio of 9.21 and a debt-to-equity ratio of 4.55.
A number of institutional investors have recently modified their holdings of the stock. Oaktop Capital Management II L.P. bought a new position in NewStar Financial in the second quarter worth approximately $23,701,000. Jacobs Asset Management LLC raised its position in NewStar Financial by 24.3% in the second quarter. Jacobs Asset Management LLC now owns 1,514,390 shares of the credit services provider’s stock worth $15,901,000 after acquiring an additional 295,719 shares during the period. Dimensional Fund Advisors LP raised its position in NewStar Financial by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,590,665 shares of the credit services provider’s stock worth $27,202,000 after acquiring an additional 90,892 shares during the period. Northern Trust Corp raised its position in NewStar Financial by 32.0% in the second quarter. Northern Trust Corp now owns 328,786 shares of the credit services provider’s stock worth $3,452,000 after acquiring an additional 79,612 shares during the period. Finally, Algert Global LLC raised its position in NewStar Financial by 664.7% in the second quarter. Algert Global LLC now owns 89,139 shares of the credit services provider’s stock worth $936,000 after acquiring an additional 77,482 shares during the period. Institutional investors 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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