Insider Buying: Newtek Business Services, CEO Acquires 2,000 Shares of Stock (NEWT)
Newtek Business Services, (NASDAQ:NEWT) CEO Barry Sloane acquired 2,000 shares of Newtek Business Services, stock in a transaction dated Thursday, August 28th. The shares were purchased at an average cost of $2.84 per share, for a total transaction of $5,680.00. Following the purchase, the chief executive officer now directly owns 4,752,864 shares in the company, valued at approximately $13,498,134. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Newtek Business Services, (NASDAQ:NEWT) opened at 2.83 on Friday. 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 $2.56 and its 200-day moving average is $2.71. The company has a market cap of $106.9 million and a price-to-earnings ratio of 15.72.
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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