California Public Employees Retirement System Sells 4,200 Shares of NewStar Financial, Inc. (NEWS)
California Public Employees Retirement System reduced its stake in shares of NewStar Financial, Inc. (NASDAQ:NEWS) by 4.2% during the first quarter, Holdings Channel reports. The fund owned 95,800 shares of the credit services provider’s stock after selling 4,200 shares during the period. California Public Employees Retirement System’s holdings in NewStar Financial were worth $1,014,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Algert Global LLC acquired a new stake in NewStar Financial during the first quarter valued at approximately $123,000. Parametric Portfolio Associates LLC raised its stake in NewStar Financial by 69.8% in the first quarter. Parametric Portfolio Associates LLC now owns 17,504 shares of the credit services provider’s stock valued at $185,000 after buying an additional 7,198 shares during the last quarter. Prudential Financial Inc. acquired a new stake in NewStar Financial during the first quarter valued at approximately $213,000. Virginia Retirement Systems ET AL acquired a new stake in NewStar Financial during the first quarter valued at approximately $258,000. Finally, Oxford Asset Management acquired a new stake in NewStar Financial during the first quarter valued at approximately $262,000. 73.72% of the stock is currently owned by institutional investors.
Shares of NewStar Financial, Inc. (NEWS) traded up 1.06% on Friday, hitting $10.47. 46,697 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $10.79 and its 200 day moving average price is $10.19. The stock has a market cap of $435.63 million, a price-to-earnings ratio of 18.90 and a beta of 2.03. NewStar Financial, Inc. has a 12-month low of $8.03 and a 12-month high of $11.49.
NewStar Financial (NASDAQ:NEWS) last issued its earnings results on Wednesday, August 2nd. The credit services provider reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.05. The firm had revenue of $20.19 million during the quarter, compared to analysts’ expectations of $24.32 million. NewStar Financial had a net margin of 8.65% and a return on equity of 3.76%. On average, equities analysts predict that NewStar Financial, Inc. will post $0.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th will be issued 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 payout ratio is 14.55%.
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Several research firms have commented on NEWS. ValuEngine lowered shares of NewStar Financial from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub lowered shares of NewStar Financial from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Zacks Investment Research lowered shares of NewStar Financial from a “buy” rating to a “hold” rating in a report on Tuesday. Four analysts have rated the stock with a hold rating, NewStar Financial presently has a consensus rating of “Hold” and a consensus target price of $11.50.
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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