Newtek Business Services Corp. (NASDAQ:NEWT) CEO Barry Sloane acquired 1,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was bought at an average price of $16.49 per share, with a total value of $16,490.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,003,113 shares in the company, valued at approximately $16,541,333.37. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Thursday, August 10th, Barry Sloane acquired 1,000 shares of Newtek Business Services Corp. stock. The stock was bought at an average price of $16.53 per share, with a total value of $16,530.00.
  • On Friday, May 26th, Barry Sloane acquired 1,000 shares of Newtek Business Services Corp. stock. The stock was bought at an average price of $16.85 per share, with a total value of $16,850.00.

Shares of Newtek Business Services Corp. (NASDAQ:NEWT) traded down 0.79% on Friday, reaching $16.32. 91,051 shares of the company’s stock traded hands. Newtek Business Services Corp. has a 12-month low of $12.97 and a 12-month high of $18.00. The stock has a 50-day moving average of $16.74 and a 200 day moving average of $16.59. The firm has a market cap of $284.47 million, a P/E ratio of 8.80 and a beta of 1.39.

Newtek Business Services Corp. (NASDAQ:NEWT) last issued 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 analyst estimates of $9.19 million. Newtek Business Services Corp. had a return on equity of 7.97% and a net margin of 81.35%. On average, equities research analysts expect that Newtek Business Services Corp. will post $1.77 earnings per share for the current year.

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Large investors have recently added to or reduced their stakes in the company. Opus Capital Group LLC raised its stake in Newtek Business Services Corp. by 2,611.9% in the first quarter. Opus Capital Group LLC now owns 430,838 shares of the business services provider’s stock valued at $7,315,000 after buying an additional 414,951 shares in the last quarter. UBS Group AG raised its stake in 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 in the last quarter. Mckinley Capital Management LLC Delaware bought a new stake in Newtek Business Services Corp. during the first quarter valued at approximately $2,314,000. LSV Asset Management raised its stake in Newtek Business Services Corp. by 66.4% in the first quarter. LSV Asset Management now owns 287,954 shares of the business services provider’s stock valued at $4,889,000 after buying an additional 114,906 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Newtek Business Services Corp. during the first quarter valued at approximately $1,805,000. Institutional investors and hedge funds own 24.64% of the company’s stock.

Several brokerages have commented on NEWT. Zacks Investment Research lowered shares of Newtek Business Services Corp. from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub upgraded shares of Newtek Business Services Corp. from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Keefe, Bruyette & Woods restated a “mkt perform” rating and issued a $18.00 price objective on shares of Newtek Business Services Corp. in a report on Tuesday, May 30th. Finally, Compass Point upgraded shares of Newtek Business Services Corp. from a “neutral” rating to a “buy” rating in a report on Thursday, May 4th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Newtek Business Services Corp. presently has an average rating of “Buy” and an average price target 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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