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Newtek Business Services, (NASDAQ:NEWT) CEO Barry Sloane purchased 4,200 shares of Newtek Business Services, stock on the open market in a transaction that occurred on Wednesday, August 27th. The stock was purchased at an average cost of $2.65 per share, with a total value of $11,130.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,750,864 shares in the company, valued at approximately $12,589,790. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

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, (NASDAQ:NEWT) traded up 9.23% on Wednesday, hitting $2.84. 150,984 shares of the company’s stock traded hands. Newtek Business Services, has a one year low of $2.26 and a one year 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 $107.3 million and a P/E ratio of 14.44.

Newtek Business Services, (NASDAQ:NEWT) last posted its quarterly 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. On average, analysts predict that Newtek Business Services, will post $0.25 earnings per share for the current fiscal year.

Newtek Business Services, Inc (NASDAQ:NEWT) is a holding company.

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