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.
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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