Two Sigma Advisers LP Sells 7,225 Shares of NEWTEK Business Services Corp (NEWT)

Two Sigma Advisers LP lessened its holdings in NEWTEK Business Services Corp (NASDAQ:NEWT) by 20.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,836 shares of the business services provider’s stock after selling 7,225 shares during the period. Two Sigma Advisers LP owned about 0.15% of NEWTEK Business Services worth $485,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NEWT. Cambridge Investment Research Advisors Inc. lifted its stake in shares of NEWTEK Business Services by 8.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 10,712 shares of the business services provider’s stock worth $187,000 after purchasing an additional 797 shares during the period. Fusion Family Wealth LLC lifted its stake in shares of NEWTEK Business Services by 11.9% in the 4th quarter. Fusion Family Wealth LLC now owns 10,841 shares of the business services provider’s stock worth $189,000 after purchasing an additional 1,150 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of NEWTEK Business Services by 197.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,503 shares of the business services provider’s stock worth $241,000 after purchasing an additional 7,638 shares during the period. Aptus Capital Advisors LLC bought a new position in shares of NEWTEK Business Services in the 4th quarter worth approximately $320,000. Finally, Eagle Global Advisors LLC bought a new position in shares of NEWTEK Business Services in the 4th quarter worth approximately $341,000. Hedge funds and other institutional investors own 20.06% of the company’s stock.

In other news, CEO Barry Sloane bought 4,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were bought at an average price of $19.70 per share, for a total transaction of $78,800.00. Following the purchase, the chief executive officer now owns 1,023,708 shares in the company, valued at $20,167,047.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.30% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on the stock. BidaskClub upgraded shares of NEWTEK Business Services from a “hold” rating to a “buy” rating in a research note on Tuesday, April 9th. Zacks Investment Research upgraded shares of NEWTEK Business Services from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Thursday, April 4th. TheStreet cut shares of NEWTEK Business Services from a “b” rating to a “c+” rating in a research note on Monday, March 11th. Compass Point assumed coverage on shares of NEWTEK Business Services in a research note on Friday, March 8th. They issued a “neutral” rating and a $19.00 price objective on the stock. Finally, Raymond James upgraded shares of NEWTEK Business Services from a “market perform” rating to an “outperform” rating and set a $15.68 price objective on the stock in a research note on Monday, December 24th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $19.17.

NASDAQ NEWT opened at $20.77 on Friday. NEWTEK Business Services Corp has a 12 month low of $15.59 and a 12 month high of $24.24. The company has a market cap of $395.86 million, a price-to-earnings ratio of 15.16, a PEG ratio of 3.13 and a beta of 1.39. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.28.

NEWTEK Business Services (NASDAQ:NEWT) last released its earnings results on Wednesday, March 6th. The business services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. NEWTEK Business Services had a net margin of 72.06% and a return on equity of 9.02%. The company had revenue of $14.66 million for the quarter, compared to analysts’ expectations of $12.85 million. As a group, analysts expect that NEWTEK Business Services Corp will post 2.21 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 7.70%. The ex-dividend date was Thursday, March 14th. NEWTEK Business Services’s payout ratio is 82.47%.

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NEWTEK Business Services 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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