Newtek Business Services (NASDAQ:NEWT) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

A number of other research firms also recently issued reports on NEWT. ValuEngine raised Newtek Business Services from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $18.00 target price on shares of Newtek Business Services in a research report on Friday, October 13th. Finally, Zacks Investment Research raised Newtek Business Services from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Wednesday, November 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Newtek Business Services currently has a consensus rating of “Hold” and an average target price of $18.50.

Newtek Business Services (NASDAQ:NEWT) traded up $0.19 on Tuesday, hitting $19.19. The company’s stock had a trading volume of 255,302 shares, compared to its average volume of 163,626. Newtek Business Services has a 1 year low of $15.15 and a 1 year high of $19.22. The firm has a market cap of $333.44, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 3.38 and a beta of 1.43. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.42 and a quick ratio of 0.42.

In related news, CEO Barry Sloane bought 3,000 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average price of $16.60 per share, with a total value of $49,800.00. Following the completion of the transaction, the chief executive officer now owns 1,006,113 shares in the company, valued at $16,701,475.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard J. Salute bought 1,468 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was bought at an average cost of $17.07 per share, for a total transaction of $25,058.76. Following the transaction, the director now owns 7,734 shares of the company’s stock, valued at approximately $132,019.38. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 6,568 shares of company stock worth $110,106. 6.70% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in NEWT. Advisors Asset Management Inc. increased its position in Newtek Business Services by 98.3% during the second quarter. Advisors Asset Management Inc. now owns 172,529 shares of the business services provider’s stock worth $2,810,000 after buying an additional 85,538 shares during the last quarter. Northpointe Capital LLC increased its position in Newtek Business Services by 10.8% during the second quarter. Northpointe Capital LLC now owns 283,132 shares of the business services provider’s stock worth $4,612,000 after buying an additional 27,596 shares during the last quarter. Fusion Family Wealth LLC increased its position in Newtek Business Services by 56.6% during the second quarter. Fusion Family Wealth LLC now owns 6,935 shares of the business services provider’s stock worth $113,000 after buying an additional 2,506 shares during the last quarter. American Asset Management Inc. increased its position in Newtek Business Services by 0.4% during the second quarter. American Asset Management Inc. now owns 14,345 shares of the business services provider’s stock worth $234,000 after buying an additional 51 shares during the last quarter. Finally, Bard Associates Inc. increased its position in Newtek Business Services by 0.6% during the second quarter. Bard Associates Inc. now owns 174,956 shares of the business services provider’s stock worth $2,850,000 after buying an additional 991 shares during the last quarter. 20.98% of the stock is currently owned by institutional investors and hedge funds.

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Newtek Business Services Company Profile

Newtek Business Services Corp. is an internally managed non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation primarily through loans originated by its small business finance platform and its equity investments in certain portfolio companies that it controls.

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