NEWTEK Business Services (NASDAQ:NEWT) was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating in a research report issued to clients and investors on Monday, TheStreetRatingsTable reports.
A number of other equities research analysts have also issued reports on the company. ValuEngine raised NEWTEK Business Services from a “sell” rating to a “hold” rating in a research report on Tuesday. Raymond James downgraded NEWTEK Business Services from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. BidaskClub raised shares of NEWTEK Business Services from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Finally, Zacks Investment Research cut shares of NEWTEK Business Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. NEWTEK Business Services presently has an average rating of “Hold” and a consensus price target of $19.17.
NEWT opened at $23.31 on Monday. The company has a market capitalization of $463.10 million, a price-to-earnings ratio of 12.02 and a beta of 1.22. The business’s 50-day moving average price is $22.58 and its two-hundred day moving average price is $22.30. NEWTEK Business Services has a 1 year low of $15.59 and a 1 year high of $23.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.31 and a quick ratio of 0.31.
A number of large investors have recently modified their holdings of NEWT. Stifel Financial Corp boosted its stake in shares of NEWTEK Business Services by 1.9% during the 3rd quarter. Stifel Financial Corp now owns 41,779 shares of the business services provider’s stock worth $941,000 after buying an additional 771 shares during the last quarter. First Allied Advisory Services Inc. increased its position in shares of NEWTEK Business Services by 38.8% in the third quarter. First Allied Advisory Services Inc. now owns 32,971 shares of the business services provider’s stock valued at $740,000 after acquiring an additional 9,220 shares during the last quarter. Cavalier Investments LLC acquired a new stake in shares of NEWTEK Business Services in the third quarter valued at about $632,000. D.A. Davidson & CO. bought a new stake in NEWTEK Business Services during the third quarter worth about $242,000. Finally, AE Wealth Management LLC raised its holdings in NEWTEK Business Services by 12.8% during the third quarter. AE Wealth Management LLC now owns 23,069 shares of the business services provider’s stock worth $521,000 after acquiring an additional 2,625 shares in the last quarter. 17.08% of the stock is currently owned by hedge funds and other institutional investors.
About NEWTEK Business Services
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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