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Newtek Business Services, (NASDAQ:NEWT) CEO Barry Sloane purchased 2,000 shares of Newtek Business Services, stock on the open market in a transaction dated Tuesday, August 26th. The stock was purchased at an average price of $2.53 per share, with a total value of $5,060.00. Following the transaction, the chief executive officer now directly owns 4,746,664 shares of the company’s stock, valued at approximately $12,009,060. The acquisition 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’s 50-day moving average is $2.55 and its 200-day moving average is $2.71. The company has a market cap of $98.3 million and a price-to-earnings ratio of 13.94.

Newtek Business Services, (NASDAQ:NEWT) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters 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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