Tudor Investment Corp ET AL Lowers Stake in NewtekOne, Inc. $NEWT

Tudor Investment Corp ET AL reduced its position in NewtekOne, Inc. (NASDAQ:NEWT) by 82.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 18,784 shares of the business services provider’s stock after selling 90,789 shares during the period. Tudor Investment Corp ET AL’s holdings in NewtekOne were worth $215,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Patriot Financial Partners GP II L.P. purchased a new position in NewtekOne in the third quarter valued at about $26,423,000. Vanguard Group Inc. increased its stake in NewtekOne by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,459,051 shares of the business services provider’s stock worth $16,706,000 after buying an additional 26,966 shares during the period. Geode Capital Management LLC grew its stake in NewtekOne by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 630,105 shares of the business services provider’s stock valued at $7,109,000 after purchasing an additional 14,413 shares in the last quarter. Marshall Wace LLP grew its position in shares of NewtekOne by 42.9% during the second quarter. Marshall Wace LLP now owns 623,540 shares of the business services provider’s stock worth $7,034,000 after buying an additional 187,103 shares in the last quarter. Finally, North Reef Capital Management LP bought a new position in NewtekOne during the 3rd quarter valued at $4,430,000. 38.35% of the stock is currently owned by hedge funds and other institutional investors.

NewtekOne Price Performance

Shares of NEWT stock opened at $11.04 on Friday. The company has a market capitalization of $318.28 million, a P/E ratio of 5.04 and a beta of 1.22. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 6.41. NewtekOne, Inc. has a 12 month low of $9.12 and a 12 month high of $14.91. The stock has a 50 day moving average of $12.46 and a two-hundred day moving average of $11.80.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Thursday, January 29th. The business services provider reported $0.65 EPS for the quarter, hitting analysts’ consensus estimates of $0.65. The firm had revenue of $120.83 million during the quarter, compared to analysts’ expectations of $80.01 million. NewtekOne had a net margin of 15.51% and a return on equity of 18.83%. As a group, equities analysts expect that NewtekOne, Inc. will post 1.93 EPS for the current year.

NewtekOne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 24th were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, March 24th. This represents a $0.76 annualized dividend and a dividend yield of 6.9%. NewtekOne’s payout ratio is currently 34.70%.

Insider Activity at NewtekOne

In other news, insider Michael Adam Schwartz acquired 2,247 shares of the firm’s stock in a transaction on Wednesday, January 14th. The shares were purchased at an average cost of $13.91 per share, with a total value of $31,255.77. Following the acquisition, the insider directly owned 49,713 shares in the company, valued at $691,507.83. This represents a 4.73% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Barry Sloane purchased 3,595 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were acquired at an average cost of $13.91 per share, for a total transaction of $50,006.45. Following the completion of the transaction, the chief executive officer owned 1,194,180 shares of the company’s stock, valued at $16,611,043.80. This trade represents a 0.30% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 8,656 shares of company stock worth $120,405 in the last 90 days. Corporate insiders own 6.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Piper Sandler lifted their target price on NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Weiss Ratings restated a “hold (c)” rating on shares of NewtekOne in a report on Thursday, January 22nd. Wall Street Zen upgraded NewtekOne from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of NewtekOne from $13.00 to $14.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, NewtekOne presently has an average rating of “Moderate Buy” and a consensus price target of $15.33.

NewtekOne Profile

NewtekOne, Inc (NASDAQ: NEWT) is a publicly traded business development company that specializes in providing financial and business services to small and medium‐sized enterprises across the United States. Operating under the trade name The Newtek Small Business Finance, the company offers a diversified array of lending solutions designed to meet the working capital, equipment acquisition and growth needs of its clients.

The company’s core lending offerings include Small Business Administration (SBA) 7(a) loans, equipment financing, lines of credit and commercial real estate financing.