BidaskClub Lowers NEWTEK Business Services (NEWT) to Buy

NEWTEK Business Services (NASDAQ:NEWT) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also commented on NEWT. Zacks Investment Research upgraded NEWTEK Business Services from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Wednesday, November 8th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $18.00 target price on shares of NEWTEK Business Services in a research note on Friday, October 13th. Finally, ValuEngine lowered NEWTEK Business Services from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. NEWTEK Business Services presently has a consensus rating of “Hold” and a consensus price target of $18.50.

Shares of NEWTEK Business Services (NASDAQ:NEWT) opened at $18.13 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $326.60, a P/E ratio of 10.99, a PEG ratio of 3.17 and a beta of 1.42. NEWTEK Business Services has a 12-month low of $15.15 and a 12-month high of $19.40.

In related news, CEO Barry Sloane acquired 3,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was purchased at an average cost of $16.60 per share, for a total transaction of $49,800.00. Following the completion of the purchase, the chief executive officer now directly owns 1,006,113 shares of the company’s stock, valued at approximately $16,701,475.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard J. Salute acquired 1,468 shares of the company’s stock in a transaction on Friday, November 10th. The shares were bought at an average price of $17.07 per share, with a total value of $25,058.76. Following the completion of the purchase, the director now directly owns 7,734 shares of the company’s stock, valued at $132,019.38. The disclosure for this purchase can be found here. Insiders purchased 8,068 shares of company stock valued at $137,966 over the last 90 days. 6.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. acquired a new position in NEWTEK Business Services during the second quarter worth $171,000. Arrowstreet Capital Limited Partnership acquired a new position in NEWTEK Business Services during the second quarter worth $207,000. Commonwealth Equity Services Inc raised its stake in NEWTEK Business Services by 61.2% during the third quarter. Commonwealth Equity Services Inc now owns 25,670 shares of the business services provider’s stock worth $457,000 after acquiring an additional 9,744 shares in the last quarter. Stifel Financial Corp raised its stake in NEWTEK Business Services by 2.8% during the second quarter. Stifel Financial Corp now owns 30,436 shares of the business services provider’s stock worth $495,000 after acquiring an additional 823 shares in the last quarter. Finally, OxFORD Asset Management LLP acquired a new position in NEWTEK Business Services during the second quarter worth $936,000. Hedge funds and other institutional investors own 20.98% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “BidaskClub Lowers NEWTEK Business Services (NEWT) to Buy” was published by Ticker Report and is the property of of Ticker Report. If you are accessing this story on another website, it was illegally stolen and republished in violation of US & international copyright and trademark law. The correct version of this story can be read at https://www.tickerreport.com/banking-finance/3126850/bidaskclub-lowers-newtek-business-services-newt-to-buy.html.

About NEWTEK Business Services

Newtek Business Services Corp. is an internally managed non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation primarily through loans originated by its small business finance platform and its equity investments in certain portfolio companies that it controls.

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.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2018 Ticker Report. Google+.