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

Newtek Business Services, (NASDAQ:NEWT) traded up 1.99% during mid-day trading on Tuesday, hitting $2.56. The stock had a trading volume of 27,322 shares. Newtek Business Services, has a one year low of $2.26 and a one year 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 $96.7 million and a P/E ratio of 13.94.

Newtek Business Services, (NASDAQ:NEWT) last announced its earnings results on Thursday, August 14th. The company reported $0.07 earnings per share for the quarter, beating the analysts’ 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.

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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