NewtekOne (NASDAQ:NEWT) Cut to Sell at Wall Street Zen

NewtekOne (NASDAQ:NEWT) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other research analysts have also recently issued reports on NEWT. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NewtekOne in a report on Thursday, January 22nd. Keefe, Bruyette & Woods upped their price target on NewtekOne from $13.00 to $14.00 and gave the stock a “market perform” rating in a report on Friday, January 30th. Finally, Piper Sandler lifted their price objective on NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, NewtekOne has a consensus rating of “Hold” and a consensus price target of $15.00.

NewtekOne Price Performance

NewtekOne stock opened at $12.97 on Friday. NewtekOne has a one year low of $9.12 and a one year high of $14.91. The company has a debt-to-equity ratio of 5.69, a quick ratio of 0.67 and a current ratio of 0.67. The business has a fifty day moving average of $12.92 and a two-hundred day moving average of $11.84. The company has a market cap of $374.70 million, a P/E ratio of 5.92 and a beta of 1.25.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings results on Thursday, January 29th. The business services provider reported $0.65 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.65. NewtekOne had a net margin of 15.51% and a return on equity of 19.52%. The business had revenue of $55.85 million for the quarter, compared to analysts’ expectations of $80.01 million. As a group, analysts predict that NewtekOne will post 1.93 earnings per share for the current fiscal year.

Insider Buying and Selling at NewtekOne

In other news, CEO Barry Sloane bought 3,595 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was purchased at an average price of $13.91 per share, with a total value of $50,006.45. Following the purchase, the chief executive officer owned 1,194,180 shares of the company’s stock, valued at $16,611,043.80. This trade represents a 0.30% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Adam Schwartz bought 2,247 shares of NewtekOne stock in a transaction on Wednesday, January 14th. The stock was purchased at an average price of $13.91 per share, for a total transaction of $31,255.77. Following the completion of the acquisition, the insider owned 49,713 shares in the company, valued at $691,507.83. This represents a 4.73% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 10,845 shares of company stock valued at $145,511 in the last three months. 6.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NewtekOne

A number of institutional investors have recently modified their holdings of the company. Advisory Services Network LLC purchased a new position in shares of NewtekOne during the third quarter valued at approximately $46,000. CWM LLC raised its holdings in NewtekOne by 728.7% in the 2nd quarter. CWM LLC now owns 8,610 shares of the business services provider’s stock valued at $97,000 after acquiring an additional 7,571 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of NewtekOne during the 2nd quarter worth $107,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of NewtekOne during the third quarter worth $150,000. Finally, Cerity Partners LLC boosted its holdings in shares of NewtekOne by 18.0% during the fourth quarter. Cerity Partners LLC now owns 13,714 shares of the business services provider’s stock worth $156,000 after purchasing an additional 2,095 shares during the last quarter. Institutional investors and hedge funds own 38.35% of the company’s stock.

About NewtekOne

NewtekOne, Inc (NASDAQ: NEWT) is a publicly traded business development company that specializes in providing financial and business services to small and medium‐sized enterprises across the United States. Operating under the trade name The Newtek Small Business Finance, the company offers a diversified array of lending solutions designed to meet the working capital, equipment acquisition and growth needs of its clients.

The company’s core lending offerings include Small Business Administration (SBA) 7(a) loans, equipment financing, lines of credit and commercial real estate financing.