NEWTEK Business Services Corp (NASDAQ:NEWT) CEO Barry Sloane acquired 1,000 shares of the firm’s stock in a transaction on Thursday, December 6th. The stock was purchased at an average price of $20.10 per share, for a total transaction of $20,100.00. Following the acquisition, the chief executive officer now directly owns 1,010,911 shares in the company, valued at approximately $20,319,311.10. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Barry Sloane also recently made the following trade(s):

  • On Wednesday, November 14th, Barry Sloane acquired 500 shares of NEWTEK Business Services stock. The stock was purchased at an average price of $19.47 per share, for a total transaction of $9,735.00.

Shares of NASDAQ NEWT traded down $0.72 during trading on Thursday, hitting $20.16. 4,233 shares of the company were exchanged, compared to its average volume of 142,737. NEWTEK Business Services Corp has a 12-month low of $16.07 and a 12-month high of $24.24. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.30. The firm has a market cap of $394.59 million, a PE ratio of 11.38, a P/E/G ratio of 3.65 and a beta of 1.41.

NEWTEK Business Services (NASDAQ:NEWT) last posted its quarterly earnings results on Wednesday, November 7th. The business services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. NEWTEK Business Services had a return on equity of 8.51% and a net margin of 102.01%. The business had revenue of $12.39 million for the quarter, compared to analyst estimates of $11.85 million. Research analysts expect that NEWTEK Business Services Corp will post 1.9 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Tuesday, December 18th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 9.92%. The ex-dividend date is Monday, December 17th. This is a positive change from NEWTEK Business Services’s previous quarterly dividend of $0.48. NEWTEK Business Services’s payout ratio is currently 108.47%.

NEWT has been the topic of several analyst reports. Raymond James lowered NEWTEK Business Services from a “market perform” rating to an “underperform” rating in a report on Tuesday, August 28th. ValuEngine lowered NEWTEK Business Services from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Compass Point set a $19.00 price target on NEWTEK Business Services and gave the stock a “hold” rating in a report on Thursday, November 8th. BidaskClub lowered NEWTEK Business Services from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Singular Research reiterated a “not rated” rating on shares of NEWTEK Business Services in a report on Monday, August 27th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. NEWTEK Business Services has an average rating of “Hold” and an average target price of $20.67.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC raised its holdings in NEWTEK Business Services by 8.5% in the 2nd quarter. Private Advisor Group LLC now owns 31,300 shares of the business services provider’s stock valued at $639,000 after buying an additional 2,450 shares during the period. California Public Employees Retirement System raised its holdings in NEWTEK Business Services by 6.1% in the 2nd quarter. California Public Employees Retirement System now owns 56,934 shares of the business services provider’s stock valued at $1,134,000 after buying an additional 3,290 shares during the period. Commonwealth Equity Services LLC raised its holdings in NEWTEK Business Services by 12.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 40,486 shares of the business services provider’s stock valued at $847,000 after buying an additional 4,470 shares during the period. Van ECK Associates Corp raised its holdings in NEWTEK Business Services by 3.9% in the 2nd quarter. Van ECK Associates Corp now owns 133,242 shares of the business services provider’s stock valued at $2,653,000 after buying an additional 5,039 shares during the period. Finally, Morgan Stanley raised its holdings in NEWTEK Business Services by 5.9% in the 3rd quarter. Morgan Stanley now owns 94,081 shares of the business services provider’s stock valued at $1,971,000 after buying an additional 5,214 shares during the period. Institutional investors and hedge funds own 20.71% of the company’s stock.

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NEWTEK Business Services Company Profile

Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small-and medium-sized business market in the United States. The firm also seeks to invest in early stage businesses. The firm seeks to makes both debt and equity investments.

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