NEWTEK Business Services (NASDAQ:NEWT) Trading 30.5% Higher

NEWTEK Business Services Corp (NASDAQ:NEWT) traded up 30.5% on Wednesday . The stock traded as high as $11.79 and last traded at $14.98, 33,759 shares were traded during mid-day trading. A decline of 93% from the average session volume of 505,530 shares. The stock had previously closed at $11.48.

Several research firms recently commented on NEWT. TheStreet cut NEWTEK Business Services from a “b” rating to a “c+” rating in a research report on Monday, December 2nd. ValuEngine cut NEWTEK Business Services from a “sell” rating to a “strong sell” rating in a report on Thursday. LADENBURG THALM/SH SH raised NEWTEK Business Services from a “neutral” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Thursday, March 19th. Zacks Investment Research raised NEWTEK Business Services from a “sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Raymond James raised NEWTEK Business Services from an “underperform” rating to a “market perform” rating in a research note on Monday, March 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.50.

The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.66 and a current ratio of 1.66. The business has a 50 day moving average price of $17.75 and a two-hundred day moving average price of $21.28. The company has a market cap of $281.07 million, a P/E ratio of 7.87 and a beta of 1.15.

NEWTEK Business Services (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, March 4th. The business services provider reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.03). The business had revenue of $15.36 million for the quarter, compared to the consensus estimate of $16.00 million. NEWTEK Business Services had a net margin of 69.37% and a return on equity of 14.90%. As a group, research analysts expect that NEWTEK Business Services Corp will post 2.2 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 18th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 10.55%. The ex-dividend date of this dividend is Tuesday, March 17th. NEWTEK Business Services’s payout ratio is 75.54%.

In other news, CEO Barry Sloane bought 2,000 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was purchased at an average price of $15.93 per share, with a total value of $31,860.00. Following the transaction, the chief executive officer now owns 1,039,705 shares of the company’s stock, valued at $16,562,500.65. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have acquired a total of 8,505 shares of company stock valued at $106,246 in the last ninety days. 6.70% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. UBS Group AG raised its position in shares of NEWTEK Business Services by 6.7% in the 4th quarter. UBS Group AG now owns 358,236 shares of the business services provider’s stock worth $8,114,000 after acquiring an additional 22,580 shares in the last quarter. LSV Asset Management raised its position in shares of NEWTEK Business Services by 6.7% in the 4th quarter. LSV Asset Management now owns 286,445 shares of the business services provider’s stock worth $6,487,000 after acquiring an additional 18,019 shares in the last quarter. Van ECK Associates Corp raised its position in shares of NEWTEK Business Services by 26.4% in the 4th quarter. Van ECK Associates Corp now owns 221,545 shares of the business services provider’s stock worth $5,018,000 after acquiring an additional 46,336 shares in the last quarter. Mckinley Capital Management LLC Delaware raised its position in shares of NEWTEK Business Services by 3.5% in the 4th quarter. Mckinley Capital Management LLC Delaware now owns 142,662 shares of the business services provider’s stock worth $3,232,000 after acquiring an additional 4,769 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of NEWTEK Business Services by 11.0% in the 4th quarter. Raymond James & Associates now owns 72,566 shares of the business services provider’s stock worth $1,644,000 after acquiring an additional 7,168 shares in the last quarter. 20.29% of the stock is owned by hedge funds and other institutional investors.

NEWTEK Business Services Company Profile (NASDAQ:NEWT)

Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small-and medium-sized business market in the United States. The firm also seeks to invest in early stage businesses. The firm seeks to makes both debt and equity investments.

Further Reading: Asset Allocation, Balancing Your Investments

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