Two Sigma Investments LP increased its holdings in shares of NEWTEK Business Services Corp (NASDAQ:NEWT) by 898.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,432 shares of the business services provider’s stock after purchasing an additional 190,266 shares during the quarter. Two Sigma Investments LP owned approximately 1.17% of NEWTEK Business Services worth $3,909,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Fusion Family Wealth LLC grew its position in shares of NEWTEK Business Services by 259.4% during the fourth quarter. Fusion Family Wealth LLC now owns 8,625 shares of the business services provider’s stock worth $159,000 after purchasing an additional 6,225 shares in the last quarter. Quadrature Capital Ltd bought a new position in NEWTEK Business Services during the fourth quarter valued at approximately $246,000. Suntrust Banks Inc. bought a new position in NEWTEK Business Services during the fourth quarter valued at approximately $258,000. Commonwealth Equity Services Inc boosted 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 valued at $457,000 after buying an additional 9,744 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in NEWTEK Business Services by 55.4% during the third quarter. Stifel Financial Corp now owns 47,302 shares of the business services provider’s stock valued at $844,000 after buying an additional 16,866 shares during the last quarter. Hedge funds and other institutional investors own 22.00% of the company’s stock.
A number of equities analysts recently commented on NEWT shares. Zacks Investment Research raised NEWTEK Business Services from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Keefe, Bruyette & Woods set a $19.00 price target on NEWTEK Business Services and gave the company a “hold” rating in a research note on Tuesday, March 6th. Finally, BidaskClub raised NEWTEK Business Services from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. NEWTEK Business Services has an average rating of “Hold” and an average price target of $19.00.
NEWTEK Business Services (NASDAQ:NEWT) last announced its quarterly earnings results on Monday, March 5th. The business services provider reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). NEWTEK Business Services had a net margin of 107.74% and a return on equity of 8.40%. The firm had revenue of $10.42 million for the quarter, compared to the consensus estimate of $10.08 million. equities analysts anticipate that NEWTEK Business Services Corp will post 1.88 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Tuesday, March 20th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 9.00%. The ex-dividend date of this dividend is Monday, March 19th. NEWTEK Business Services’s payout ratio is presently 71.11%.
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NEWTEK Business Services Profile
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.
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