NEWTEK Business Services Corp (NASDAQ:NEWT) Director Gregory L. Zink acquired 500 shares of NEWTEK Business Services stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average cost of $20.82 per share, with a total value of $10,410.00. Following the completion of the transaction, the director now directly owns 10,123 shares of the company’s stock, valued at $210,760.86. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
NEWT stock opened at $20.90 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.34 and a quick ratio of 0.35. The stock has a market capitalization of $400.44 million, a P/E ratio of 10.77 and a beta of 1.29. The business has a 50-day moving average of $21.84 and a 200-day moving average of $21.18. NEWTEK Business Services Corp has a fifty-two week low of $15.59 and a fifty-two week high of $24.12.
NEWTEK Business Services (NASDAQ:NEWT) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. The company had revenue of $14.15 million during the quarter, compared to analysts’ expectations of $14.33 million. NEWTEK Business Services had a return on equity of 9.87% and a net margin of 68.61%. Equities analysts expect that NEWTEK Business Services Corp will post 2.55 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Chubb Ltd boosted its position in NEWTEK Business Services by 3.2% during the first quarter. Chubb Ltd now owns 17,308 shares of the business services provider’s stock valued at $339,000 after purchasing an additional 543 shares during the last quarter. Bank of America Corp DE boosted its position in NEWTEK Business Services by 111.2% during the fourth quarter. Bank of America Corp DE now owns 18,312 shares of the business services provider’s stock valued at $320,000 after purchasing an additional 9,640 shares during the last quarter. Millennium Management LLC acquired a new position in NEWTEK Business Services during the fourth quarter valued at approximately $382,000. Private Advisor Group LLC boosted its position in NEWTEK Business Services by 47.5% during the first quarter. Private Advisor Group LLC now owns 91,206 shares of the business services provider’s stock valued at $1,791,000 after purchasing an additional 29,366 shares during the last quarter. Finally, Private Portfolio Partners LLC boosted its position in NEWTEK Business Services by 1.6% during the first quarter. Private Portfolio Partners LLC now owns 29,599 shares of the business services provider’s stock valued at $581,000 after purchasing an additional 479 shares during the last quarter. 18.49% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the company. ValuEngine cut NEWTEK Business Services from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. Zacks Investment Research raised NEWTEK Business Services from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Saturday, August 10th. TheStreet raised NEWTEK Business Services from a “c+” rating to a “b” rating in a research report on Wednesday, May 15th. Finally, BidaskClub cut NEWTEK Business Services from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.17.
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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