NewStar Financial (NEWS) Upgraded to “Hold” at BidaskClub

NewStar Financial (NASDAQ:NEWS) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other research analysts have also recently weighed in on NEWS. Janney Montgomery Scott cut shares of NewStar Financial from a “buy” rating to a “neutral” rating in a report on Tuesday, October 17th. Zacks Investment Research cut shares of NewStar Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 4th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $11.50.

NewStar Financial (NASDAQ NEWS) opened at $11.72 on Friday. The firm has a market cap of $484.12, a P/E ratio of 24.79 and a beta of 2.10. NewStar Financial has a 1-year low of $8.54 and a 1-year high of $12.59. The company has a quick ratio of 9.21, a current ratio of 10.24 and a debt-to-equity ratio of 4.55.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Voya Investment Management LLC boosted its holdings in NewStar Financial by 19.0% during the second quarter. Voya Investment Management LLC now owns 15,293 shares of the credit services provider’s stock worth $161,000 after purchasing an additional 2,444 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in NewStar Financial by 13.5% during the first 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 last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in NewStar Financial during the second quarter worth $202,000. First Trust Advisors LP acquired a new position in NewStar Financial during the third quarter worth $220,000. Finally, Parametric Portfolio Associates LLC boosted its holdings in NewStar Financial by 41.5% during the second quarter. Parametric Portfolio Associates LLC now owns 24,769 shares of the credit services provider’s stock worth $260,000 after purchasing an additional 7,265 shares during the last quarter. Institutional investors and hedge funds own 73.35% 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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