Abrams Capital Management adds NorthStar Asset Management Group Inc (NSAM) to its portfolio

NorthStar Asset Management Group Inc (NSAM) : Abrams Capital Management added new position in NorthStar Asset Management Group Inc during the most recent quarter end. The investment management firm now holds 7,908,145 shares of NorthStar Asset Management Group Inc which is valued at $92.8 Million , the company said in a statement filed on May 13, 2016 with the SEC.NorthStar Asset Management Group Inc makes up approximately 4.52% of Abrams Capital Management’s portfolio.

Other Hedge Funds, Including , Citadel Advisors reduced its stake in NSAM by selling 1,335,953 shares or 97.46% in the most recent quarter. The Hedge Fund company now holds 34,842 shares of NSAM which is valued at $408,697. Green Owl Capital Management added NSAM to its portfolio by purchasing 53,713 company shares during the most recent quarter which is valued at $630,053. NorthStar Asset Management Group Inc makes up approx 1.48% of Green Owl Capital Management’s portfolio. Mufg Americas Holdings Corp sold out all of its stake in NSAM during the most recent quarter. The investment firm sold 208 shares of NSAM which is valued $2,440.Norges Bank boosted its stake in NSAM in the latest quarter, The investment management firm added 399,989 additional shares and now holds a total of 1,712,776 shares of NorthStar Asset Management Group Inc which is valued at $20.1 Million. NorthStar Asset Management Group Inc makes up approx 0.01% of Norges Bank’s portfolio.State Of Wisconsin Investment Board reduced its stake in NSAM by selling 5,900 shares or 4.2% in the most recent quarter. The Hedge Fund company now holds 134,645 shares of NSAM which is valued at $1.6 Million. NorthStar Asset Management Group Inc makes up approx 0.01% of State Of Wisconsin Investment Board’s portfolio.

NorthStar Asset Management Group Inc opened for trading at $11.99 and hit $12.295 on the upside on Wednesday, eventually ending the session at $12.24, with a gain of 2.43% or 0.29 points. The heightened volatility saw the trading volume jump to 6,66,517 shares. Company has a market cap of $2,378 M.

On the company’s financial health, NorthStar Asset Management Group Inc reported $0.09 EPS for the quarter, missing the analyst consensus estimate by $ -0.12 based on the information available during the earnings call on May 10, 2016. Analyst had a consensus of $0.21. The company had revenue of $106.43 million for the quarter, compared to analysts expectations of $107.15 million. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.

Many Wall Street Analysts have commented on NorthStar Asset Management Group Inc. Shares were Reiterated by Deutsche Bank on Mar 14, 2016 to “Buy” and Lowered the Price Target to $ 20 from a previous price target of $24 .Shares were Reiterated by FBR Capital on Feb 29, 2016 to “Outperform” and Lowered the Price Target to $ 15 from a previous price target of $23 .

Northstar Asset Management Group Inc. is an asset management company. The Company is focused on managing real estate and other investment platforms in the United States and internationally. The Company owns NorthStar Realty Securities LLC (NorthStar Securities) which is a captive broker-dealer platform and raises capital in the retail market for its sponsored companies. The Company’s sponsored companies include NorthStar Real Estate Income Trust Inc. (NorthStar Income); NorthStar Healthcare Income Inc. (North Star Healthcare); NorthStar/RXR New York Metro Income Inc. ( NorthStar/RXR New York Metro) and NorthStar Corporate Income Inc. (NorthStar Corporate). The Company also leases its offices in New York; Denver Colorado; Dallas Texas; Bethesda Maryland; London United Kingdom; Senningerberg Luxembourg Los Angeles California and Pembroke Bermuda.

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