Headlines about Newtek Business Services (NASDAQ:NEWT) have trended somewhat positive this week, according to Accern Sentiment. The research firm identifies positive and negative press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Newtek Business Services earned a media sentiment score of 0.10 on Accern’s scale. Accern also assigned news articles about the business services provider an impact score of 45.2623899561131 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the news headlines that may have impacted Accern Sentiment’s scoring:
- Newtek Business Services Corp. (NEWT) Expected to Post Quarterly Sales of $10.11 Million (americanbankingnews.com)
- NEWTEK BUSINESS SERVICES CORP. (NASDAQ:NEWT) Files An 8-K Results of Operations and Financial Condition (4-traders.com)
- Newtek Prices its 8th and Largest S&P-Rated Small Business Loan Securitization – GlobeNewswire (press release) (globenewswire.com)
Several equities analysts have recently weighed in on the stock. ValuEngine downgraded shares of Newtek Business Services from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 31st. Zacks Investment Research raised shares of Newtek Business Services from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Tuesday, August 8th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $18.00 price target on shares of Newtek Business Services in a research report on Friday, October 13th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $18.50.
Shares of Newtek Business Services (NASDAQ NEWT) traded up $0.03 during mid-day trading on Monday, hitting $17.66. 205,914 shares of the company were exchanged, compared to its average volume of 159,938. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.26. Newtek Business Services has a 52-week low of $15.15 and a 52-week high of $18.16. The firm has a market capitalization of $317.96, a PE ratio of 14.69, a P/E/G ratio of 3.22 and a beta of 1.42.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Monday, December 18th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 9.97%. The ex-dividend date is Friday, December 15th.
In related news, Director Richard J. Salute acquired 1,468 shares of Newtek Business Services stock in a transaction dated Friday, November 10th. The stock was acquired at an average price 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 $132,019.38. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Barry Sloane acquired 3,000 shares of Newtek Business Services stock in a transaction dated Monday, November 6th. The shares were bought at an average price of $16.60 per share, with a total value of $49,800.00. Following the transaction, the chief executive officer now directly owns 1,006,113 shares in the company, valued at approximately $16,701,475.80. The disclosure for this purchase can be found here. Insiders have acquired a total of 6,568 shares of company stock valued at $110,106 in the last quarter. 6.70% of the stock is currently owned by company insiders.
About Newtek Business Services
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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