Insider Buying: Newtek Business Services, Director Acquires 1,000 Shares of Stock (NEWT)
Newtek Business Services, (NASDAQ:NEWT) Director Sam Kirschner purchased 1,000 shares of Newtek Business Services, stock in a transaction dated Wednesday, August 27th. The shares were purchased at an average cost of $2.72 per share, for a total transaction of $2,720.00. Following the completion of the transaction, the director now directly owns 88,303 shares of the company’s stock, valued at approximately $240,184. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Newtek Business Services, (NASDAQ:NEWT) traded up 9.23% during mid-day trading on Wednesday, hitting $2.84. The stock had a trading volume of 150,984 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 $107.3 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. 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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