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Newtek Business Services, (NASDAQ:NEWT) CEO Barry Sloane acquired 3,000 shares of the company’s stock on the open market in a transaction dated Monday, August 25th. The shares were purchased at an average price of $2.49 per share, for a total transaction of $7,470.00. Following the completion of the transaction, the chief executive officer now directly owns 4,744,664 shares in the company, valued at approximately $11,814,213. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Separately, analysts at Singular Research cut their price target on shares of Newtek Business Services, from $4.85 to $4.50 in a research note on Friday, June 6th. They now have a “buy” rating on the stock.

Shares of Newtek Business Services, (NASDAQ:NEWT) traded up 0.40% during mid-day trading on Monday, hitting $2.51. The stock had a trading volume of 43,540 shares. Newtek Business Services, has a 52 week low of $2.26 and a 52 week high of $3.43. The stock has a 50-day moving average of $2.55 and a 200-day moving average of $2.71. The company has a market cap of $94.9 million and a price-to-earnings ratio of 13.89.

Newtek Business Services, (NASDAQ:NEWT) last released its earnings data on Thursday, August 14th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $41.27 million for the quarter, compared to the consensus estimate of $38.13 million. Analysts expect that Newtek Business Services, will post $0.25 EPS for the current fiscal year.

Newtek Business Services, Inc (NASDAQ:NEWT) is a holding company.

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