Algert Global LLC Has $936,000 Stake in NewStar Financial, Inc. (NEWS)
Algert Global LLC raised its position in NewStar Financial, Inc. (NASDAQ:NEWS) by 664.7% during the second quarter, Holdings Channel reports. The fund owned 89,139 shares of the credit services provider’s stock after buying an additional 77,482 shares during the period. Algert Global LLC’s holdings in NewStar Financial were worth $936,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in NEWS. State Street Corp raised its position in shares of NewStar Financial by 2.1% in the fourth quarter. State Street Corp now owns 429,588 shares of the credit services provider’s stock worth $3,974,000 after buying an additional 8,902 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of NewStar Financial during the fourth quarter worth about $1,995,000. Teachers Advisors LLC raised its position in shares of NewStar Financial by 38.7% in the fourth quarter. Teachers Advisors LLC now owns 52,639 shares of the credit services provider’s stock worth $487,000 after buying an additional 14,690 shares during the last quarter. Kirr Marbach & Co. LLC IN raised its position in shares of NewStar Financial by 1.2% in the first quarter. Kirr Marbach & Co. LLC IN now owns 25,935 shares of the credit services provider’s stock worth $274,000 after buying an additional 300 shares during the last quarter. Finally, DUPONT CAPITAL MANAGEMENT Corp acquired a new position in shares of NewStar Financial during the first quarter worth about $313,000. Hedge funds and other institutional investors own 73.72% of the company’s stock.
NewStar Financial, Inc. (NASDAQ:NEWS) opened at 10.52 on Thursday. NewStar Financial, Inc. has a 12 month low of $8.03 and a 12 month high of $11.49. The firm has a market cap of $433.59 million, a price-to-earnings ratio of 18.99 and a beta of 2.03. The firm’s 50 day moving average is $10.80 and its 200-day moving average is $10.18.
NewStar Financial (NASDAQ:NEWS) last posted its quarterly earnings results on Wednesday, August 2nd. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.05. NewStar Financial had a net margin of 8.65% and a return on equity of 3.76%. The business had revenue of $20.19 million during the quarter, compared to the consensus estimate of $24.32 million. On average, equities analysts forecast that NewStar Financial, Inc. will post $0.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, August 25th. NewStar Financial’s dividend payout ratio (DPR) is currently 14.55%.
NEWS has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of NewStar Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, April 19th. ValuEngine upgraded shares of NewStar Financial from a “hold” rating to a “buy” rating in a research report on Saturday, May 20th.
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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