Newtek Business Services Corp. (NASDAQ:NEWT) Director Richard J. Salute acquired 1,468 shares of Newtek Business Services Corp. stock in a transaction on Friday, November 10th. The shares were purchased at an average price of $17.07 per share, with a total value of $25,058.76. Following the completion of the purchase, the director now owns 7,734 shares in the company, valued at approximately $132,019.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Newtek Business Services Corp. (NASDAQ NEWT) traded up $0.10 during mid-day trading on Monday, hitting $17.03. 76,200 shares of the stock were exchanged, compared to its average volume of 161,067. Newtek Business Services Corp. has a 52-week low of $14.62 and a 52-week high of $18.16. The company has a market capitalization of $308.05, a price-to-earnings ratio of 14.19 and a beta of 1.44. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.42 and a quick ratio of 0.42.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Monday, December 18th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, December 15th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 10.33%.

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A number of analysts have weighed in on NEWT shares. Keefe, Bruyette & Woods restated a “hold” rating and set a $18.00 price objective on shares of Newtek Business Services Corp. in a research note on Friday, October 13th. Zacks Investment Research lowered shares of Newtek Business Services Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. ValuEngine upgraded shares of Newtek Business Services Corp. from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, BidaskClub upgraded shares of Newtek Business Services Corp. from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Newtek Business Services Corp. has a consensus rating of “Buy” and an average price target of $18.50.

Several hedge funds have recently made changes to their positions in the company. Northpointe Capital LLC boosted its holdings in shares of Newtek Business Services Corp. by 10.8% in the second quarter. Northpointe Capital LLC now owns 283,132 shares of the business services provider’s stock worth $4,612,000 after buying an additional 27,596 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Newtek Business Services Corp. by 6.5% in the third quarter. Advisors Asset Management Inc. now owns 183,660 shares of the business services provider’s stock worth $3,273,000 after buying an additional 11,131 shares during the last quarter. Bard Associates Inc. boosted its holdings in shares of Newtek Business Services Corp. by 0.6% in the second quarter. Bard Associates Inc. now owns 174,956 shares of the business services provider’s stock worth $2,850,000 after buying an additional 991 shares during the last quarter. Mckinley Capital Management LLC Delaware boosted its holdings in shares of Newtek Business Services Corp. by 11.4% in the third quarter. Mckinley Capital Management LLC Delaware now owns 151,429 shares of the business services provider’s stock worth $2,699,000 after buying an additional 15,548 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Newtek Business Services Corp. by 27.2% in the second quarter. Van ECK Associates Corp now owns 141,029 shares of the business services provider’s stock worth $2,297,000 after buying an additional 30,180 shares during the last quarter. Hedge funds and other institutional investors own 21.48% of the company’s stock.

Newtek Business Services Corp. Company 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.

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

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