Newtek Business Services Inc. (NEWT) CEO Purchases $14,900.00 in Stock
Newtek Business Services Inc. (NASDAQ:NEWT) CEO Barry Sloane bought 1,000 shares of the company’s stock in a transaction dated Monday, November 7th. The shares were purchased at an average price of $14.90 per share, with a total value of $14,900.00. Following the completion of the acquisition, the chief executive officer now owns 994,233 shares of the company’s stock, valued at approximately $14,814,071.70. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Barry Sloane also recently made the following trade(s):
- On Wednesday, November 9th, Barry Sloane purchased 1,000 shares of Newtek Business Services stock. The stock was bought at an average cost of $14.31 per share, with a total value of $14,310.00.
Newtek Business Services Inc. (NASDAQ:NEWT) opened at 14.87 on Thursday. The company has a market cap of $215.48 million, a P/E ratio of 6.03 and a beta of 1.36. The firm’s 50 day moving average is $14.23 and its 200-day moving average is $13.34. Newtek Business Services Inc. has a 52 week low of $9.37 and a 52 week high of $17.23.
Several hedge funds have recently bought and sold shares of the company. PARK CIRCLE Co acquired a new stake in Newtek Business Services during the second quarter worth $112,000. American Asset Management Inc. acquired a new stake in Newtek Business Services during the third quarter worth $169,000. HighTower Advisors LLC increased its stake in Newtek Business Services by 0.8% in the second quarter. HighTower Advisors LLC now owns 18,174 shares of the company’s stock worth $237,000 after buying an additional 142 shares during the period. MSI Financial Services Inc increased its stake in Newtek Business Services by 454.6% in the third quarter. MSI Financial Services Inc now owns 17,116 shares of the company’s stock worth $244,000 after buying an additional 14,030 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Newtek Business Services by 126.3% in the second quarter. JPMorgan Chase & Co. now owns 28,794 shares of the company’s stock worth $366,000 after buying an additional 16,070 shares during the period. Hedge funds and other institutional investors own 21.73% of the company’s stock.
NEWT has been the subject of a number of research reports. DA Davidson reissued a “buy” rating and issued a $16.00 price target on shares of Newtek Business Services in a research note on Thursday, September 29th. Zacks Investment Research downgraded shares of Newtek Business Services from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Raymond James Financial Inc. decreased their price target on shares of Newtek Business Services from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Monday, August 15th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $15.25.
Newtek Business Services Company Profile
Newtek Business Services Corp. is a non-diversified closed-end management investment company. The Company is engaged in non-bank lending providing a range of business services and financial products under the Newtek brand to the small- and medium-sized business (SMB) market. Its products and services consist of Business Lending, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), e-commerce, Accounts Receivable Financing, The Secure Gateway, The Newtek Advantage, personal and commercial Insurance Services, Web Services, Data Backup, Storage and Retrieval, and Payroll Solutions.
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