Goldman Sachs Group Inc. Sells 3,249 Shares of NewStar Financial, Inc. (NEWS)

Goldman Sachs Group Inc. lessened its stake in shares of NewStar Financial, Inc. (NASDAQ:NEWS) by 12.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,133 shares of the credit services provider’s stock after selling 3,249 shares during the period. Goldman Sachs Group Inc. owned 0.05% of NewStar Financial worth $232,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Virginia Retirement Systems ET AL increased its stake in NewStar Financial by 5.3% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 25,700 shares of the credit services provider’s stock worth $270,000 after acquiring an additional 1,300 shares during the period. Bank of America Corp DE increased its stake in NewStar Financial by 3.1% during the 1st quarter. Bank of America Corp DE now owns 57,239 shares of the credit services provider’s stock worth $606,000 after acquiring an additional 1,697 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in NewStar Financial by 13.5% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 17,046 shares of the credit services provider’s stock worth $180,000 after acquiring an additional 2,021 shares during the period. Alliancebernstein L.P. increased its stake in NewStar Financial by 7.9% during the 2nd quarter. Alliancebernstein L.P. now owns 32,700 shares of the credit services provider’s stock worth $343,000 after acquiring an additional 2,400 shares during the period. Finally, Voya Investment Management LLC increased its stake in NewStar Financial by 19.0% during the 2nd quarter. Voya Investment Management LLC now owns 15,293 shares of the credit services provider’s stock worth $161,000 after acquiring an additional 2,444 shares during the period. Hedge funds and other institutional investors own 73.31% of the company’s stock.

A number of research firms have commented on NEWS. Janney Montgomery Scott lowered NewStar Financial from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 17th. Zacks Investment Research lowered NewStar Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 4th. ValuEngine lowered NewStar Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, BidaskClub upgraded NewStar Financial from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. NewStar Financial currently has an average rating of “Hold” and an average target price of $11.50.

NewStar Financial, Inc. (NASDAQ NEWS) opened at $11.90 on Monday. NewStar Financial, Inc. has a 52 week low of $8.03 and a 52 week 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. The stock has a market capitalization of $494.51, a price-to-earnings ratio of 25.32 and a beta of 2.13.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $0.08 annualized dividend and a dividend yield of 0.67%. NewStar Financial’s payout ratio is 17.02%.

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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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Institutional Ownership by Quarter for NewStar Financial (NASDAQ:NEWS)

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