NEWTEK Business Services (NASDAQ:NEWT) Rating Increased to Sell at ValuEngine

NEWTEK Business Services (NASDAQ:NEWT) was upgraded by research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Thursday, ValuEngine reports.

A number of other research firms have also recently weighed in on NEWT. BidaskClub cut shares of NEWTEK Business Services from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research cut shares of NEWTEK Business Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $19.17.

NASDAQ NEWT opened at $21.43 on Thursday. The company has a market capitalization of $404.32 million, a PE ratio of 14.07 and a beta of 1.22. The company has a fifty day moving average of $22.60 and a 200 day moving average of $21.91. NEWTEK Business Services has a 1 year low of $15.59 and a 1 year high of $23.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.34 and a quick ratio of 0.34.

NEWTEK Business Services (NASDAQ:NEWT) last posted its earnings results on Tuesday, August 6th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. The company had revenue of $14.15 million during the quarter, compared to the consensus estimate of $14.33 million. NEWTEK Business Services had a net margin of 68.61% and a return on equity of 9.87%. Research analysts expect that NEWTEK Business Services will post 2.26 earnings per share for the current year.

In other news, CEO Barry Sloane acquired 2,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was bought at an average price of $20.94 per share, with a total value of $41,880.00. Following the completion of the acquisition, the chief executive officer now owns 1,029,906 shares of the company’s stock, valued at $21,566,231.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 2,698 shares of company stock valued at $56,379 in the last ninety days. 6.70% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. purchased a new stake in shares of NEWTEK Business Services during the first quarter worth about $67,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of NEWTEK Business Services during the second quarter worth about $76,000. Advisor Group Inc. increased its stake in shares of NEWTEK Business Services by 64.3% during the second quarter. Advisor Group Inc. now owns 4,494 shares of the business services provider’s stock worth $104,000 after purchasing an additional 1,759 shares in the last quarter. Eagle Global Advisors LLC purchased a new stake in shares of NEWTEK Business Services during the second quarter worth about $206,000. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of NEWTEK Business Services during the second quarter worth about $284,000. 18.12% of the stock is owned by institutional investors.

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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