NEWTEK Business Services Corp (NASDAQ:NEWT) CEO Barry Sloane acquired 1,000 shares of the business’s stock in a transaction on Tuesday, November 29th. The shares were bought 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 in the company, valued at approximately $14,992,689.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Wednesday, November 9th, Barry Sloane bought 1,000 shares of NEWTEK Business Services Corp stock. The stock was acquired at an average price of $14.31 per share, for a total transaction of $14,310.00.
  • On Monday, November 7th, Barry Sloane bought 1,000 shares of NEWTEK Business Services Corp stock. The stock was acquired at an average price of $14.90 per share, for a total transaction of $14,900.00.

NEWTEK Business Services Corp (NASDAQ:NEWT) traded up 0.65% during trading on Tuesday, reaching $15.47. The company had a trading volume of 307,385 shares. The company has a market capitalization of $225.94 million, a PE ratio of 5.82 and a beta of 1.36. NEWTEK Business Services Corp has a 52-week low of $9.37 and a 52-week high of $15.78. The company has a 50 day moving average price of $14.63 and a 200 day moving average price of $13.57.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 10.34%. The ex-dividend date is Tuesday, December 13th. NEWTEK Business Services Corp’s dividend payout ratio (DPR) is currently 60.35%.

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A number of institutional investors have recently modified their holdings of NEWT. Wellington Management Group LLP boosted its position in shares of NEWTEK Business Services Corp 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 period. PARK CIRCLE Co bought a new position in shares of NEWTEK Business Services Corp during the second quarter worth about $112,000. Bank of Montreal Can bought a new position in shares of NEWTEK Business Services Corp during the second quarter worth about $376,000. JPMorgan Chase & Co. boosted its position in shares of NEWTEK Business Services Corp 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. Finally, HighTower Advisors LLC boosted its position in shares of NEWTEK Business Services Corp 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. Hedge funds and other institutional investors own 20.42% of the company’s stock.

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods downgraded NEWTEK Business Services Corp from an “outperform” rating to a “market perform” rating in a report on Tuesday. JMP Securities reiterated a “hold” rating on shares of NEWTEK Business Services Corp in a report on Friday, November 18th. Zacks Investment Research downgraded NEWTEK Business Services Corp from a “hold” rating to a “sell” rating in a report on Tuesday, October 18th. DA Davidson reiterated a “buy” rating and issued a $16.00 target price on shares of NEWTEK Business Services Corp in a report on Thursday, September 29th. Finally, Raymond James Financial Inc. dropped their target price on NEWTEK Business Services Corp from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $15.25.

About NEWTEK Business Services Corp

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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