Bramshill Investments LLC bought a new position in shares of NEWTEK Business Services Corp (NASDAQ:NEWT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 55,918 shares of the business services provider’s stock, valued at approximately $1,034,000. Bramshill Investments LLC owned about 0.31% of NEWTEK Business Services at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in NEWT. Two Sigma Investments LP lifted its position in shares of NEWTEK Business Services by 898.9% during the fourth quarter. Two Sigma Investments LP now owns 211,432 shares of the business services provider’s stock worth $3,909,000 after purchasing an additional 190,266 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of NEWTEK Business Services by 117.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 130,748 shares of the business services provider’s stock valued at $2,418,000 after buying an additional 70,744 shares during the period. Two Sigma Advisers LP increased its stake in shares of NEWTEK Business Services by 407.7% during the fourth quarter. Two Sigma Advisers LP now owns 76,461 shares of the business services provider’s stock valued at $1,414,000 after buying an additional 61,400 shares during the period. Stifel Financial Corp increased its stake in shares of NEWTEK Business Services by 55.4% during the third quarter. Stifel Financial Corp now owns 47,302 shares of the business services provider’s stock valued at $844,000 after buying an additional 16,866 shares during the period. Finally, Mckinley Capital Management LLC Delaware increased its stake in shares of NEWTEK Business Services by 11.4% during the third quarter. Mckinley Capital Management LLC Delaware now owns 151,429 shares of the business services provider’s stock valued at $2,699,000 after buying an additional 15,548 shares during the period. Institutional investors and hedge funds own 22.00% of the company’s stock.
NEWT has been the topic of several research reports. Zacks Investment Research upgraded NEWTEK Business Services from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Keefe, Bruyette & Woods set a $19.00 target price on NEWTEK Business Services and gave the company a “hold” rating in a research note on Tuesday, March 6th. Finally, BidaskClub upgraded NEWTEK Business Services from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. NEWTEK Business Services has an average rating of “Hold” and an average price target of $19.00.
Shares of NEWT stock traded down $0.03 during trading hours on Friday, reaching $17.94. 55,447 shares of the company’s stock were exchanged, compared to its average volume of 109,864. NEWTEK Business Services Corp has a 1 year low of $15.68 and a 1 year high of $19.40. The firm has a market capitalization of $333.29, a price-to-earnings ratio of 10.14, a PEG ratio of 3.18 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.27 and a current ratio of 0.27.
NEWTEK Business Services (NASDAQ:NEWT) last released its earnings results on Monday, March 5th. The business services provider reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.04). NEWTEK Business Services had a return on equity of 8.40% and a net margin of 107.74%. The firm had revenue of $10.42 million for the quarter, compared to analyst estimates of $10.08 million. equities analysts forecast that NEWTEK Business Services Corp will post 1.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Tuesday, March 20th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.92%. The ex-dividend date of this dividend was Monday, March 19th. NEWTEK Business Services’s dividend payout ratio (DPR) is 90.40%.
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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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