Newtek Business Services Inc. (NASDAQ:NEWT) CEO Barry Sloane acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, November 9th. The shares were bought at an average cost of $14.31 per share, for a total transaction of $14,310.00. Following the completion of the acquisition, the chief executive officer now directly owns 994,424 shares of the company’s stock, valued at $14,230,207.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • On Monday, November 7th, Barry Sloane acquired 1,000 shares of Newtek Business Services stock. The shares were bought at an average cost of $14.90 per share, for a total transaction of $14,900.00.

Insider Buying and Selling by Quarter for Newtek Business Services (NASDAQ:NEWT)

A number of brokerages have recently weighed in on NEWT. Zacks Investment Research lowered shares of Newtek Business Services from a “hold” rating to a “sell” rating in a report on Tuesday, October 18th. DA Davidson reissued a “buy” rating and set a $16.00 price objective on shares of Newtek Business Services in a report on Thursday, September 29th. Finally, Raymond James Financial Inc. dropped their price objective on shares of Newtek Business Services from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $15.25.

Several large investors have recently modified their holdings of the company. American Asset Management Inc. purchased a new position in Newtek Business Services during the third quarter valued at approximately $169,000. Northpointe Capital LLC increased its position in Newtek Business Services by 26.5% in the third quarter. Northpointe Capital LLC now owns 274,991 shares of the company’s stock valued at $3,921,000 after buying an additional 57,574 shares during the last quarter. MSI Financial Services Inc increased its position 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 valued at $244,000 after buying an additional 14,030 shares during the last quarter. Van ECK Associates Corp purchased a new position in Newtek Business Services during the second quarter valued at approximately $690,000. Finally, West Family Investments Inc. increased its position in Newtek Business Services by 2.3% in the second quarter. West Family Investments Inc. now owns 226,647 shares of the company’s stock valued at $2,883,000 after buying an additional 5,100 shares during the last quarter. Hedge funds and other institutional investors own 21.72% of the company’s stock.

About Newtek Business Services

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.

5 Day Chart for NASDAQ:NEWT

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