BidaskClub Lowers NEWTEK Business Services (NASDAQ:NEWT) to Sell

BidaskClub cut shares of NEWTEK Business Services (NASDAQ:NEWT) from a hold rating to a sell rating in a research note released on Saturday, BidAskClub reports.

NEWT has been the subject of several other research reports. TheStreet upgraded shares of NEWTEK Business Services from a c+ rating to a b rating in a research report on Wednesday, May 15th. Zacks Investment Research cut shares of NEWTEK Business Services from a buy rating to a hold rating in a research report on Wednesday, July 3rd. Finally, ValuEngine cut shares of NEWTEK Business Services from a buy rating to a hold rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $19.17.

NEWT stock traded up $0.17 during trading on Friday, hitting $20.87. 65,828 shares of the stock traded hands, compared to its average volume of 110,238. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market cap of $395.69 million, a PE ratio of 13.80 and a beta of 1.29. NEWTEK Business Services has a one year low of $15.59 and a one year high of $24.24. The stock has a 50 day moving average of $22.06.

NEWTEK Business Services (NASDAQ:NEWT) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. The firm had revenue of $14.15 million during the quarter, compared to analysts’ expectations of $14.33 million. NEWTEK Business Services had a net margin of 68.61% and a return on equity of 9.90%. As a group, research analysts forecast that NEWTEK Business Services will post 2.55 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. C M Bidwell & Associates Ltd. acquired a new stake in NEWTEK Business Services in the 2nd quarter valued at about $76,000. Marshall Wace North America L.P. acquired a new stake in shares of NEWTEK Business Services during the 1st quarter worth approximately $67,000. Advisor Group Inc. grew its position in shares of NEWTEK Business Services by 64.3% during the 2nd quarter. Advisor Group Inc. now owns 4,494 shares of the business services provider’s stock worth $104,000 after buying an additional 1,759 shares during the period. Envestnet Asset Management Inc. acquired a new stake in shares of NEWTEK Business Services during the 2nd quarter worth approximately $284,000. Finally, Chubb Ltd grew its position in shares of NEWTEK Business Services by 3.2% during the 1st quarter. Chubb Ltd now owns 17,308 shares of the business services provider’s stock worth $339,000 after buying an additional 543 shares during the period. Hedge funds and other institutional investors own 18.60% of the company’s stock.

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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