Newtek Business Services Corp. (NASDAQ:NEWT) CEO Barry Sloane acquired 1,000 shares of the stock in a transaction dated Thursday, August 10th. The shares were bought at an average price of $16.53 per share, with a total value of $16,530.00. Following the completion of the purchase, the chief executive officer now directly owns 1,002,013 shares of the company’s stock, valued at approximately $16,563,274.89. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

  • On Friday, May 26th, Barry Sloane acquired 1,000 shares of Newtek Business Services Corp. stock. The shares were bought at an average price of $16.85 per share, with a total value of $16,850.00.

Newtek Business Services Corp. (NASDAQ:NEWT) traded down 3.35% during midday trading on Thursday, hitting $16.45. 233,889 shares of the stock traded hands. The stock has a market cap of $286.74 million, a price-to-earnings ratio of 8.87 and a beta of 1.39. Newtek Business Services Corp. has a one year low of $12.97 and a one year high of $18.00. The company has a 50-day moving average price of $16.74 and a 200 day moving average price of $16.60.

Newtek Business Services Corp. (NASDAQ:NEWT) last posted its earnings results on Wednesday, August 2nd. The business services provider reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. The firm had revenue of $9.90 million for the quarter, compared to the consensus estimate of $9.19 million. Newtek Business Services Corp. had a net margin of 81.35% and a return on equity of 7.97%. Equities research analysts anticipate that Newtek Business Services Corp. will post $1.77 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of NEWT. Van ECK Associates Corp increased its position in Newtek Business Services Corp. by 48.9% in the first quarter. Van ECK Associates Corp now owns 110,849 shares of the business services provider’s stock worth $1,882,000 after buying an additional 36,401 shares during the period. Stifel Financial Corp increased its position in shares of Newtek Business Services Corp. by 8.7% in the first quarter. Stifel Financial Corp now owns 29,613 shares of the business services provider’s stock valued at $505,000 after buying an additional 2,373 shares during the last quarter. UBS Group AG increased its position in shares of Newtek Business Services Corp. by 56.7% in the first quarter. UBS Group AG now owns 404,163 shares of the business services provider’s stock valued at $6,863,000 after buying an additional 146,276 shares during the last quarter. Sterneck Capital Management LLC acquired a new position in shares of Newtek Business Services Corp. during the first quarter valued at about $549,000. Finally, Trexquant Investment LP acquired a new position in shares of Newtek Business Services Corp. during the first quarter valued at about $201,000. 24.64% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Newtek Business Services Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub upgraded shares of Newtek Business Services Corp. from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Keefe, Bruyette & Woods reiterated a “mkt perform” rating and set a $18.00 price objective on shares of Newtek Business Services Corp. in a research note on Tuesday, May 30th. Finally, Compass Point downgraded shares of Newtek Business Services Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Newtek Business Services Corp. has an average rating of “Buy” and a consensus target price of $17.00.

About Newtek Business Services Corp.

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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