Mckinley Capital Management LLC Delaware Acquires 4,769 Shares of NEWTEK Business Services Corp (NASDAQ:NEWT)

Mckinley Capital Management LLC Delaware grew its holdings in shares of NEWTEK Business Services Corp (NASDAQ:NEWT) by 3.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 142,662 shares of the business services provider’s stock after purchasing an additional 4,769 shares during the period. Mckinley Capital Management LLC Delaware’s holdings in NEWTEK Business Services were worth $3,232,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Marshall Wace North America L.P. acquired a new position in shares of NEWTEK Business Services during the 1st quarter worth about $67,000. D.A. Davidson & CO. acquired a new stake in shares of NEWTEK Business Services in the 3rd quarter valued at approximately $242,000. Envestnet Asset Management Inc. grew its stake in shares of NEWTEK Business Services by 79.9% in the third quarter. Envestnet Asset Management Inc. now owns 22,229 shares of the business services provider’s stock valued at $502,000 after buying an additional 9,871 shares in the last quarter. AE Wealth Management LLC grew its stake in shares of NEWTEK Business Services by 12.8% in the third quarter. AE Wealth Management LLC now owns 23,069 shares of the business services provider’s stock valued at $521,000 after buying an additional 2,625 shares in the last quarter. Finally, Cavalier Investments LLC acquired a new position in NEWTEK Business Services during the third quarter worth $632,000. 17.10% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have issued reports on the stock. Zacks Investment Research lowered shares of NEWTEK Business Services from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. BidaskClub downgraded shares of NEWTEK Business Services from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 14th. ValuEngine lowered shares of NEWTEK Business Services from a “hold” rating to a “sell” rating in a research note on Monday, December 16th. Raymond James cut shares of NEWTEK Business Services from a “market perform” rating to an “underperform” rating in a report on Wednesday, January 8th. Finally, TheStreet downgraded shares of NEWTEK Business Services from a “b” rating to a “c+” rating in a research note on Monday, December 2nd. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company currently has a consensus rating of “Sell” and an average price target of $22.50.

Shares of NASDAQ NEWT traded up $0.05 during midday trading on Friday, hitting $21.79. 3,116 shares of the company’s stock were exchanged, compared to its average volume of 155,324. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $430.89 million, a PE ratio of 11.60 and a beta of 1.21. NEWTEK Business Services Corp has a 12 month low of $18.22 and a 12 month high of $23.99. The company’s 50 day moving average price is $22.61 and its 200 day moving average price is $22.36.

NEWTEK Business Services (NASDAQ:NEWT) last posted its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.07. NEWTEK Business Services had a return on equity of 14.42% and a net margin of 61.37%. The business had revenue of $16.02 million for the quarter, compared to analysts’ expectations of $13.68 million. On average, equities research analysts anticipate that NEWTEK Business Services Corp will post 2.37 EPS for the current year.

NEWTEK Business Services Company Profile

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.

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Institutional Ownership by Quarter for NEWTEK Business Services (NASDAQ:NEWT)

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