NewStar Financial Inc. (NASDAQ:NEWS) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 785,053 shares, an increase of 55.3% from the August 31st total of 505,348 shares. Based on an average daily volume of 32,811 shares, the days-to-cover ratio is presently 23.9 days. Currently, 4.2% of the shares of the company are sold short.
Several institutional investors have recently modified their holdings of NEWS. Wedge Capital Management L L P NC boosted its position in shares of NewStar Financial by 85.8% in the second quarter. Wedge Capital Management L L P NC now owns 63,365 shares of the company’s stock valued at $367,000 after buying an additional 29,265 shares in the last quarter. Sippican Capital Advisors boosted its position in shares of NewStar Financial by 11.5% in the second quarter. Sippican Capital Advisors now owns 239,158 shares of the company’s stock valued at $2,014,000 after buying an additional 24,695 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in shares of NewStar Financial during the second quarter valued at $152,000. BlackRock Fund Advisors boosted its position in shares of NewStar Financial by 2.3% in the second quarter. BlackRock Fund Advisors now owns 633,487 shares of the company’s stock valued at $5,334,000 after buying an additional 13,954 shares in the last quarter. Finally, BlackRock Investment Management LLC boosted its position in shares of NewStar Financial by 8.6% in the second quarter. BlackRock Investment Management LLC now owns 102,352 shares of the company’s stock valued at $862,000 after buying an additional 8,145 shares in the last quarter. 77.46% of the stock is owned by institutional investors.
Several research firms recently commented on NEWS. TheStreet cut shares of NewStar Financial from a “hold” rating to a “sell” rating in a research note on Friday, September 9th. Zacks Investment Research cut shares of NewStar Financial from a “hold” rating to a “sell” rating in a research note on Friday, August 5th. Finally, Keefe, Bruyette & Woods upped their target price on shares of NewStar Financial from $10.00 to $11.00 and gave the company a “market perform” rating in a research note on Thursday, August 4th.
Shares of NewStar Financial (NASDAQ:NEWS) opened at 9.35 on Friday. The company has a market cap of $436.30 million, a price-to-earnings ratio of 23.26 and a beta of 1.82. NewStar Financial has a one year low of $4.25 and a one year high of $11.37. The firm has a 50-day moving average of $10.09 and a 200 day moving average of $9.33.
NewStar Financial (NASDAQ:NEWS) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.04. The business had revenue of $25.30 million for the quarter, compared to the consensus estimate of $24.40 million. NewStar Financial had a return on equity of 2.82% and a net margin of 6.97%. Equities research analysts anticipate that NewStar Financial will post $0.47 EPS for the current year.
About NewStar Financial
NewStar Financial, Inc (NewStar) is a commercial finance company with specialized lending platforms focused on meeting the financing needs of companies and private investors in the middle market. The Company and its wholly owned investment management subsidiary, NewStar Capital LLC, are registered investment advisors and provide asset management services to institutional investors.
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