Newtek Business Services Corp. (NEWT) Director Acquires $20,148.00 in Stock

Newtek Business Services Corp. (NASDAQ:NEWT) Director Salvatore Francis Mulia purchased 1,200 shares of Newtek Business Services Corp. stock in a transaction on Wednesday, November 8th. The stock was bought at an average cost of $16.79 per share, with a total value of $20,148.00. Following the transaction, the director now directly owns 66,363 shares of the company’s stock, valued at $1,114,234.77. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Newtek Business Services Corp. (NEWT) traded up $0.10 during trading on Monday, hitting $17.03. The stock had a trading volume of 76,200 shares, compared to its average volume of 161,067. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $308.05, a price-to-earnings ratio of 14.19 and a beta of 1.44. Newtek Business Services Corp. has a twelve month low of $14.62 and a twelve month high of $18.16.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Monday, December 18th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, December 15th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 10.33%.

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A number of brokerages have weighed in on NEWT. Zacks Investment Research cut Newtek Business Services Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. ValuEngine cut Newtek Business Services Corp. from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 31st. BidaskClub upgraded Newtek Business Services Corp. from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $18.00 price objective on shares of Newtek Business Services Corp. in a research note on Friday, October 13th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Newtek Business Services Corp. currently has a consensus rating of “Buy” and a consensus target price of $18.50.

Institutional investors have recently bought and sold shares of the company. Fusion Family Wealth LLC increased its stake in shares of Newtek Business Services Corp. by 56.6% in the second quarter. Fusion Family Wealth LLC now owns 6,935 shares of the business services provider’s stock worth $113,000 after purchasing an additional 2,506 shares during the period. Ameriprise Financial Inc. bought a new position in shares of Newtek Business Services Corp. in the second quarter worth about $171,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Newtek Business Services Corp. in the second quarter worth about $207,000. KCG Holdings Inc. bought a new position in shares of Newtek Business Services Corp. in the first quarter worth about $227,000. Finally, American Asset Management Inc. increased its stake in shares of Newtek Business Services Corp. by 0.4% in the second quarter. American Asset Management Inc. now owns 14,345 shares of the business services provider’s stock worth $234,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 21.48% of the company’s stock.

Newtek Business Services Corp. 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.

Insider Buying and Selling by Quarter for Newtek Business Services Corp. (NASDAQ:NEWT)

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