NewtekOne (NASDAQ:NEWT) Rating Increased to Hold at StockNews.com

NewtekOne (NASDAQ:NEWT – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research firms have also recently weighed in on NEWT. Piper Sandler decreased their price objective on shares of NewtekOne from $14.00 to $13.00 in a research report on Wednesday, May 10th. Keefe, Bruyette & Woods decreased their price target on NewtekOne from $19.00 to $12.00 and set a “market perform” rating for the company in a report on Thursday, March 16th. Finally, B. Riley began coverage on NewtekOne in a research note on Thursday. They issued a “buy” rating and a $15.00 price objective on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, NewtekOne presently has a consensus rating of “Hold” and an average price target of $15.50.

NewtekOne Trading Up 0.8 %

NASDAQ NEWT opened at $11.59 on Friday. The firm has a market capitalization of $285.23 million, a PE ratio of 8.34 and a beta of 1.28. The business’s 50-day moving average price is $12.07 and its two-hundred day moving average price is $15.57. The company has a current ratio of 2.21, a quick ratio of 1.65 and a debt-to-equity ratio of 4.77. NewtekOne has a 12 month low of $10.75 and a 12 month high of $25.55.

NewtekOne (NASDAQ:NEWT – Get Rating) last posted its quarterly earnings data on Monday, February 27th. The business services provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.54). The company had revenue of $23.09 million during the quarter, compared to analyst estimates of $26.21 million. NewtekOne had a return on equity of 13.60% and a net margin of 26.96%. On average, analysts expect that NewtekOne will post 1.63 EPS for the current year.

Insider Activity

In other news, CEO Barry Sloane bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The stock was acquired at an average cost of $11.74 per share, with a total value of $117,400.00. Following the transaction, the chief executive officer now directly owns 1,118,048 shares of the company’s stock, valued at approximately $13,125,883.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other NewtekOne news, insider Nicolas Young acquired 3,000 shares of the company’s stock in a transaction on Tuesday, March 21st. The shares were purchased at an average cost of $12.45 per share, with a total value of $37,350.00. Following the completion of the purchase, the insider now owns 31,539 shares of the company’s stock, valued at $392,660.55. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Barry Sloane acquired 10,000 shares of NewtekOne stock in a transaction dated Monday, March 20th. The shares were acquired at an average price of $11.74 per share, with a total value of $117,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,118,048 shares of the company’s stock, valued at $13,125,883.52. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 31,800 shares of company stock worth $411,013. Company insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On NewtekOne

Several large investors have recently added to or reduced their stakes in NEWT. IFP Advisors Inc raised its stake in shares of NewtekOne by 81.5% in the third quarter. IFP Advisors Inc now owns 2,450 shares of the business services provider’s stock worth $50,000 after purchasing an additional 1,100 shares during the last quarter. Royal Bank of Canada raised its position in NewtekOne by 1,166.7% in the 1st quarter. Royal Bank of Canada now owns 2,166 shares of the business services provider’s stock valued at $58,000 after buying an additional 1,995 shares during the last quarter. Money Concepts Capital Corp bought a new position in NewtekOne during the 4th quarter valued at $62,000. BNP Paribas Arbitrage SNC purchased a new position in NewtekOne during the 3rd quarter worth $83,000. Finally, Bank of America Corp DE grew its stake in shares of NewtekOne by 89.6% in the 4th quarter. Bank of America Corp DE now owns 5,432 shares of the business services provider’s stock worth $88,000 after acquiring an additional 2,567 shares in the last quarter. Institutional investors own 14.91% of the company’s stock.

About NewtekOne

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NewtekOne, Inc is a non-diversified closed-end management investment company engaged in the provision of business and financial solutions. It offers loans, payments, payroll and benefits, web solutions, insurance, and technology solutions. The company was founded by Barry Sloane in 1998 and is headquartered in Boca Raton, FL.