Insider Buying: Newtek Business Services, CEO Purchases 3,000 Shares of Stock (NEWT)
Newtek Business Services, (NASDAQ:NEWT) CEO Barry Sloane bought 3,000 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average price of $2.49 per share, for a total transaction of $7,470.00. Following the completion of the acquisition, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Newtek Business Services, (NASDAQ:NEWT) traded up 3.08% on Wednesday, hitting $2.68. 30,422 shares of the company’s stock traded hands. 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 $101.3 million and a P/E ratio of 14.44.
Newtek Business Services, (NASDAQ:NEWT) last issued its quarterly 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.
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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