Newtek Business Services, CEO Acquires $5,060 in Stock (NEWT)
Newtek Business Services, (NASDAQ:NEWT) CEO Barry Sloane bought 2,000 shares of Newtek Business Services, stock on the open market in a transaction that occurred on Tuesday, August 26th. The stock was purchased at an average cost of $2.53 per share, for a total transaction of $5,060.00. Following the completion of the transaction, the chief executive officer now directly owns 4,746,664 shares in the company, valued at approximately $12,009,060. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.
Shares of Newtek Business Services, (NASDAQ:NEWT) traded up 3.44% on Wednesday, hitting $2.6895. 15,110 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 $101.6 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. 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.
Receive News & Ratings for Newtek Business Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newtek Business Services and related companies with Analyst Ratings Network's FREE daily email newsletter.