NEWTEK Business Services (NASDAQ:NEWT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

According to Zacks, “Newtek Capital, Inc. resulted from the combination of the businesses previously owned by BJB Holdings, Inc. and REXX Environmental Corporation and is operating as a holding company for a network of partner companies in a collaborative and coordinated effort to develop successful businesses in a number of existing as well as emerging, technological business lines. “

Several other equities research analysts have also commented on the stock. ValuEngine lowered shares of NEWTEK Business Services from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Raymond James upgraded shares of NEWTEK Business Services from an “underperform” rating to a “market perform” rating in a research note on Thursday, September 27th. They noted that the move was a valuation call. LADENBURG THALM/SH SH upgraded shares of NEWTEK Business Services from a “neutral” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Friday, December 28th. Compass Point set a $19.00 price target on shares of NEWTEK Business Services and gave the company a “hold” rating in a research note on Thursday, November 8th. Finally, BidaskClub lowered shares of NEWTEK Business Services from a “hold” rating to a “sell” rating in a research note on Saturday, November 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. NEWTEK Business Services currently has an average rating of “Hold” and an average target price of $18.74.

Shares of NASDAQ:NEWT traded up $0.34 during trading hours on Thursday, hitting $18.88. The stock had a trading volume of 98,027 shares, compared to its average volume of 278,381. NEWTEK Business Services has a 1-year low of $15.59 and a 1-year high of $24.24. The firm has a market capitalization of $349.99 million, a P/E ratio of 10.67, a PEG ratio of 3.01 and a beta of 1.43. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.30.

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

In related news, CEO Barry Sloane acquired 3,000 shares of the stock in a transaction that occurred on Thursday, December 20th. The shares were acquired at an average price of $16.46 per share, for a total transaction of $49,380.00. Following the completion of the purchase, the chief executive officer now directly owns 1,012,911 shares of the company’s stock, valued at $16,672,515.06. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased 7,312 shares of company stock worth $129,529 in the last quarter. Company insiders own 6.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of NEWT. GSA Capital Partners LLP acquired a new position in shares of NEWTEK Business Services during the second quarter valued at approximately $430,000. Van ECK Associates Corp increased its stake in shares of NEWTEK Business Services by 3.9% during the second quarter. Van ECK Associates Corp now owns 133,242 shares of the business services provider’s stock valued at $2,653,000 after acquiring an additional 5,039 shares during the period. Raymond James & Associates boosted its holdings in NEWTEK Business Services by 55.7% during the second quarter. Raymond James & Associates now owns 82,764 shares of the business services provider’s stock worth $1,648,000 after buying an additional 29,605 shares in the last quarter. California Public Employees Retirement System boosted its holdings in NEWTEK Business Services by 6.1% during the second quarter. California Public Employees Retirement System now owns 56,934 shares of the business services provider’s stock worth $1,134,000 after buying an additional 3,290 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in NEWTEK Business Services by 13.3% during the second quarter. Advisors Asset Management Inc. now owns 440,964 shares of the business services provider’s stock worth $8,780,000 after buying an additional 51,624 shares in the last quarter. Institutional investors and hedge funds own 20.71% of the company’s stock.

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.

Recommended Story: How are institutional investors different from individual investors?

Get a free copy of the Zacks research report on NEWTEK Business Services (NEWT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for NEWTEK Business Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NEWTEK Business Services and related companies with MarketBeat.com's FREE daily email newsletter.