Newtek Business Services Inc. (NASDAQ:NEWT) CEO Barry Sloane purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, November 29th. The shares were acquired at an average price of $15.05 per share, for a total transaction of $15,050.00. Following the acquisition, the chief executive officer now owns 996,192 shares of the company’s stock, valued at approximately $14,992,689.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 shares were acquired at an average price of $14.31 per share, for a total transaction of $14,310.00.
  • On Monday, November 7th, Barry Sloane purchased 1,000 shares of Newtek Business Services stock. The shares were acquired at an average price of $14.90 per share, for a total transaction of $14,900.00.

Newtek Business Services Inc. (NASDAQ:NEWT) opened at 15.47 on Wednesday. Newtek Business Services Inc. has a 52 week low of $9.37 and a 52 week high of $15.78. The company’s 50-day moving average is $14.63 and its 200-day moving average is $13.57. The company has a market cap of $225.94 million, a P/E ratio of 5.82 and a beta of 1.36.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.34%. The ex-dividend date is Tuesday, December 13th. Newtek Business Services’s payout ratio is 60.35%.

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A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered shares of Newtek Business Services from an “outperform” rating to a “market perform” rating in a report on Tuesday. Raymond James Financial Inc. cut their price target 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. JMP Securities reiterated a “hold” rating on shares of Newtek Business Services in a report on Friday, November 18th. Zacks Investment Research downgraded shares of Newtek Business Services from a “hold” rating to a “sell” rating in a research note on Tuesday, October 18th. Finally, DA Davidson reissued a “buy” rating and set a $16.00 target price on shares of Newtek Business Services in a research note on Thursday, September 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Newtek Business Services currently has an average rating of “Hold” and a consensus price target of $15.25.

Several institutional investors have recently modified their holdings of NEWT. Wellington Management Group LLP raised its position in shares of Newtek Business Services by 28.7% in the first quarter. Wellington Management Group LLP now owns 732,269 shares of the company’s stock worth $9,153,000 after buying an additional 163,486 shares during the last quarter. Northpointe Capital LLC raised its position in shares of Newtek Business Services by 26.5% in the third quarter. Northpointe Capital LLC now owns 274,991 shares of the company’s stock worth $3,921,000 after buying an additional 57,574 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of Newtek Business Services during the second quarter worth approximately $690,000. Bank of Montreal Can bought a new position in shares of Newtek Business Services during the second quarter worth approximately $376,000. Finally, JPMorgan Chase & Co. raised its position in shares of 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 last quarter. 20.42% of the stock is currently owned by hedge funds and other institutional investors.

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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