Insider Buying: Barry Sloane Buys 2,000 Shares of Newtek Business Services, Stock (NEWT)
Newtek Business Services, (NASDAQ:NEWT) CEO Barry Sloane purchased 2,000 shares of Newtek Business Services, stock in a transaction that occurred on Tuesday, August 26th. The shares were purchased at an average price of $2.53 per share, for a total transaction of $5,060.00. Following the purchase, the chief executive officer now directly owns 4,746,664 shares in the company, valued at approximately $12,009,060. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Newtek Business Services, (NASDAQ:NEWT) traded up 3.59% on Tuesday, hitting $2.60. The stock had a trading volume of 48,751 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 $98.3 million and a P/E ratio of 13.94.
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. On average, analysts predict that Newtek Business Services, will post $0.25 earnings per share for the current fiscal year.
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.
Newtek Business Services, Inc (NASDAQ:NEWT) is a holding company.
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