NEWTEK Business Services Corp (NEWT) CEO Barry Sloane Acquires 1,000 Shares

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NEWTEK Business Services Corp (NASDAQ:NEWT) CEO Barry Sloane bought 1,000 shares of the company’s stock in a transaction on Thursday, December 6th. The stock was purchased at an average cost of $20.10 per share, with a total value of $20,100.00. Following the completion of the transaction, the chief executive officer now owns 1,010,911 shares in the company, valued at $20,319,311.10. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Barry Sloane also recently made the following trade(s):

  • On Wednesday, November 14th, Barry Sloane bought 500 shares of NEWTEK Business Services stock. The stock was purchased at an average cost of $19.47 per share, with a total value of $9,735.00.

Shares of NEWTEK Business Services stock traded down $0.72 on Thursday, reaching $20.16. 4,233 shares of the company were exchanged, compared to its average volume of 142,737. NEWTEK Business Services Corp has a 1-year low of $16.07 and a 1-year high of $24.24. The company has a market cap of $394.59 million, a PE ratio of 11.38, a P/E/G ratio of 3.65 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.38 and a current ratio of 0.38.

NEWTEK Business Services (NASDAQ:NEWT) last announced its quarterly earnings data on Wednesday, November 7th. The business services provider reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.03. NEWTEK Business Services had a return on equity of 8.51% and a net margin of 102.01%. The business had revenue of $12.39 million during the quarter, compared to the consensus estimate of $11.85 million. On average, sell-side analysts predict that NEWTEK Business Services Corp will post 1.9 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Tuesday, December 18th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, December 17th. This is an increase from NEWTEK Business Services’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 9.92%. NEWTEK Business Services’s payout ratio is currently 108.47%.

Several equities analysts have weighed in on the company. Zacks Investment Research raised NEWTEK Business Services from a “sell” rating to a “hold” rating in a research report on Tuesday, November 20th. BidaskClub raised NEWTEK Business Services from a “sell” rating to a “hold” rating in a research report on Friday, November 23rd. ValuEngine raised NEWTEK Business Services from a “hold” rating to a “buy” rating in a research report on Saturday, November 10th. Singular Research reissued a “not rated” rating on shares of NEWTEK Business Services in a research report on Monday, August 27th. Finally, Compass Point set a $19.00 price objective on NEWTEK Business Services and gave the stock a “hold” rating in a research report on Thursday, November 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. NEWTEK Business Services currently has a consensus rating of “Hold” and an average price target of $20.67.

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of NEWTEK Business Services by 197.6% during the third quarter. JPMorgan Chase & Co. now owns 11,503 shares of the business services provider’s stock worth $241,000 after buying an additional 7,638 shares in the last quarter. Millennium Management LLC acquired a new position in shares of NEWTEK Business Services during the first quarter worth about $217,000. Virtu Financial LLC purchased a new stake in NEWTEK Business Services during the third quarter worth approximately $378,000. Captrust Financial Advisors purchased a new stake in NEWTEK Business Services during the second quarter worth approximately $389,000. Finally, GSA Capital Partners LLP purchased a new stake in NEWTEK Business Services during the second quarter worth approximately $430,000. 20.71% of the stock is owned by institutional investors and hedge funds.

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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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