The stock of NewStar Financial Inc (NASDAQ:NEWS) is a huge mover today! About 109,397 shares traded hands or 464.86% up from the average. NewStar Financial Inc (NASDAQ:NEWS) has risen 12.23% since April 4, 2016 and is uptrending. It has outperformed by 11.14% the S&P500.
The move comes after 8 months positive chart setup for the $431.72 million company. It was reported on Nov, 4 by Barchart.com. We have $16.57 PT which if reached, will make NASDAQ:NEWS worth $284.94 million more.
NewStar Financial Inc (NASDAQ:NEWS) Ratings Coverage
Out of 2 analysts covering Newstar Financial Inc (NASDAQ:NEWS), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Newstar Financial Inc has been the topic of 5 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock of NewStar Financial Inc (NASDAQ:NEWS) has “Market Perform” rating given on Monday, April 4 by Wood. On Tuesday, October 6 the stock rating was maintained by Wood with “Market Perform”.
According to Zacks Investment Research, “NEWSTAR FINANCIAL INC is a specialized commercial finance company focused on meeting the complex financing needs of companies and private investors in the middle markets. The Company specializes in providing senior secured debt financing for the acquisition or recapitalization of mid-sized companies and commercial real estate. NewStar originates loans directly through a team of experienced, senior bankers organized around key industry and market segments. The Company targets ‘hold’ positions of up to $20 million and selectively underwrites or arranges larger transactions for syndication to other lenders. NewStar is headquartered in Boston, MA and has regional offices in Darien, CT, Chicago, IL, San Diego, CA, and Charleston, SC.”
Insitutional Activity: The institutional sentiment decreased to 1.05 in Q2 2016. Its down 0.22, from 1.27 in 2016Q1. The ratio turned negative, as 3 funds sold all NewStar Financial Inc shares owned while 19 reduced positions. 5 funds bought stakes while 18 increased positions. They now own 34.61 million shares or 3.47% less from 35.86 million shares in 2016Q1.
Blackrock Advsr Limited Com holds 0% or 11,547 shares in its portfolio. Northern Trust Corp accumulated 256,944 shares or 0% of the stock. Alliancebernstein Lp accumulated 0% or 28,700 shares. Earnest Prns Limited Liability Co owns 1,600 shares or 0% of their US portfolio. California Public Employees Retirement Sys holds 112,400 shares or 0% of its portfolio. Bank Of Montreal Can has invested 0% of its portfolio in NewStar Financial Inc (NASDAQ:NEWS). Moreover, Blackrock Fund Advsr has 0% invested in NewStar Financial Inc (NASDAQ:NEWS) for 633,487 shares. Mufg Americas Corporation has 455 shares for 0% of their US portfolio. Second Curve Capital Ltd Com has 10.91% invested in the company for 1.68M shares. The Ontario – Canada-based Manufacturers Life Ins The has invested 0% in NewStar Financial Inc (NASDAQ:NEWS). Century Cap Management Limited Liability Corp holds 0.27% of its portfolio in NewStar Financial Inc (NASDAQ:NEWS) for 292,635 shares. Legal & General Gp Plc accumulated 0% or 3,172 shares. The New York-based Goldman Sachs Grp Incorporated has invested 0% in NewStar Financial Inc (NASDAQ:NEWS). Schwab Charles Invest reported 85,449 shares or 0% of all its holdings. Moreover, Cap Impact Advsr Llc has 0.24% invested in NewStar Financial Inc (NASDAQ:NEWS) for 60,304 shares.
Insider Transactions: Since October 21, 2016, the stock had 0 buys, and 1 sale for $17.86 million net activity. Capital Z Partners III GP – Ltd. sold $17.86M worth of stock or 2.00 million shares.
NEWS Company Profile
NewStar Financial, Inc. (NewStar), incorporated on May 22, 2003, is a commercial finance firm with specialized lending platforms focused on meeting the financing needs of companies and private investors in the middle market. The Firm and its wholly owned investment management subsidiary, NewStar Capital LLC, are registered investment advisors and provide asset management services to institutional investors. The Firm manages various private credit funds that co-invest in loan origination through its leveraged finance lending platform. Through its wholly owned subsidiary, the Company also manages a series of funds structured as collateralized loan obligations (CLOs) that invest primarily in broadly syndicated loans, as well as other sponsored funds and managed accounts that invest across various asset classes, including broadly syndicated loans, high yield bonds and distressed credits. Through its specialized lending platforms, the Company provides a range of senior secured debt financing options to mid-sized companies to fund working capital, growth strategies, acquisitions and recapitalizations, as well as, purchases of equipment and other capital assets. The Firm focuses on marketing and origination efforts at private equity firms, mid-sized companies, corporate executives, banks, real estate investors and various other referral sources, and financial intermediaries to develop new customer relationships and source lending opportunities. The Company’s loan portfolio includes loans, leases and other debt products.
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