Insider Buying: Newtek Business Services, CEO Barry Sloane Purchases 4,200 Shares of Stock (NEWT)
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 transaction, the chief executive officer now directly owns 4,750,864 shares of the company’s stock, valued at approximately $12,589,790. The acquisition was disclosed in a 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.
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 P/E ratio of 15.72.
Newtek Business Services, (NASDAQ:NEWT) last posted its quarterly earnings results 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.
Newtek Business Services, Inc (NASDAQ:NEWT) is a holding company.
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