Newtek Business Services, CEO Acquires $11,130 in Stock (NEWT)
Newtek Business Services, (NASDAQ:NEWT) CEO Barry Sloane acquired 4,200 shares of the stock in a transaction dated Wednesday, August 27th. The shares were purchased at an average cost of $2.65 per share, with a total value of $11,130.00. Following the completion of the transaction, the chief executive officer now directly owns 4,750,864 shares in the company, valued at approximately $12,589,790. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Newtek Business Services, (NASDAQ:NEWT) traded up 9.23% during mid-day trading on Wednesday, hitting $2.84. 150,984 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 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 price-to-earnings ratio of 14.44.
Newtek Business Services, (NASDAQ:NEWT) last released its earnings data 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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