Capital Z Partners Management, LLC
recently revealed that they own a 0.3% stake in NewStar Financial Inc (NASDAQ:NEWS) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Tuesday, December 12th. The investor owns 132,152 shares of the stock worth approximately $1,562,037. The reporting parties listed on the disclosure included Capital Z Partners Management, LLC, Capital Z Partners III, LP, Capital Z Partners III GP, LP, Capital Z Partners III GP, Ltd and Bradley E Cooper. The filing is available through Edgar at this hyperlink.
provided the following explanation of their ownership:
On December 8,2017, Capital Z III Fund made a pro rata distribution, without consideration, of all shares of Common Stock owned by it to its respective partners.
A number of other hedge funds also recently bought and sold shares of NEWS. Corsair Capital LLC lifted its position in NewStar Financial by 0.6% during the second quarter. Corsair Capital LLC now owns 4,263,075 shares of the credit services provider’s stock valued at $44,762,000 after purchasing an additional 27,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in NewStar Financial by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,635,139 shares of the credit services provider’s stock valued at $30,936,000 after purchasing an additional 44,474 shares in the last quarter. Oaktop Capital Management II L.P. purchased a new position in NewStar Financial during the second quarter valued at $23,701,000. Vanguard Group Inc. lifted its position in NewStar Financial by 1.2% during the second quarter. Vanguard Group Inc. now owns 1,724,687 shares of the credit services provider’s stock valued at $18,109,000 after purchasing an additional 20,852 shares in the last quarter. Finally, Jacobs Asset Management LLC lifted its position in NewStar Financial by 4.2% during the third quarter. Jacobs Asset Management LLC now owns 1,577,611 shares of the credit services provider’s stock valued at $18,522,000 after purchasing an additional 63,221 shares in the last quarter. 73.84% of the stock is owned by institutional investors.
Shares of NewStar Financial Inc (NEWS) remained flat at $$11.82 during mid-day trading on Tuesday. The stock had a trading volume of 167,200 shares, compared to its average volume of 122,713. NewStar Financial Inc has a 12-month low of $8.54 and a 12-month 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 $491.18, a P/E ratio of 25.15 and a beta of 2.10.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $0.08 annualized dividend and a yield of 0.68%. NewStar Financial’s payout ratio is currently 17.02%.
A number of equities research analysts have commented on NEWS shares. Janney Montgomery Scott cut NewStar Financial from a “buy” rating to a “neutral” rating in a report on Tuesday, October 17th. BidaskClub cut NewStar Financial from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Finally, Zacks Investment Research cut NewStar Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 4th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $11.50.
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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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