Senvest Management buys $53 Million stake in NorthStar Asset Management Group Inc (NSAM)

NorthStar Asset Management Group Inc (NSAM) : Senvest Management scooped up 632,883 additional shares in NorthStar Asset Management Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 4,517,450 shares of NorthStar Asset Management Group Inc which is valued at $53 Million.NorthStar Asset Management Group Inc makes up approximately 4.71% of Senvest Management’s portfolio.

Other Hedge Funds, Including , Andalusian Capital Partners Lp reduced its stake in NSAM by selling 322,292 shares or 37.22% in the most recent quarter. The Hedge Fund company now holds 543,578 shares of NSAM which is valued at $6.4 Million. NorthStar Asset Management Group Inc makes up approx 10.24% of Andalusian Capital Partners Lp’s portfolio. Fuller Thaler Asset Management sold out all of its stake in NSAM during the most recent quarter. The investment firm sold 3,000 shares of NSAM which is valued $35,190. Zweig-dimenna Associates sold out all of its stake in NSAM during the most recent quarter. The investment firm sold 194,908 shares of NSAM which is valued $2.3 Million. Checchi Capital Advisers added NSAM to its portfolio by purchasing 394 company shares during the most recent quarter which is valued at $4,736.

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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