NewtekOne (NASDAQ:NEWT – Get Free Report) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.
Several other brokerages also recently issued reports on NEWT. Keefe, Bruyette & Woods lowered their price objective on shares of NewtekOne from $19.00 to $12.00 and set a “market perform” rating on the stock in a research report on Thursday, March 16th. B. Riley assumed coverage on shares of NewtekOne in a research report on Thursday, May 18th. They set a “buy” rating and a $15.00 price objective on the stock. Finally, Piper Sandler lowered their price objective on shares of NewtekOne from $14.00 to $13.00 in a research report on Wednesday, May 10th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $15.50.
NewtekOne Price Performance
NewtekOne stock opened at $16.22 on Thursday. The firm has a market cap of $399.17 million, a PE ratio of 11.67 and a beta of 1.33. NewtekOne has a 52-week low of $10.75 and a 52-week high of $23.11. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 4.77. The company’s 50 day moving average is $14.19 and its two-hundred day moving average is $15.03.
NewtekOne (NASDAQ:NEWT – Get Free Report) last posted its earnings results on Monday, May 8th. The business services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The firm had revenue of $47.37 million for the quarter, compared to the consensus estimate of $47.62 million. NewtekOne had a net margin of 26.96% and a return on equity of 13.60%. On average, research analysts expect that NewtekOne will post 1.72 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CEO Barry Sloane acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were acquired at an average price of $11.28 per share, with a total value of $56,400.00. Following the acquisition, the chief executive officer now directly owns 1,123,048 shares in the company, valued at $12,667,981.44. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have acquired 7,500 shares of company stock valued at $92,830. Company insiders own 6.40% of the company’s stock.
Hedge Funds Weigh In On NewtekOne
Several large investors have recently bought and sold shares of NEWT. Royce & Associates LP boosted its position in shares of NewtekOne by 127.3% during the 1st quarter. Royce & Associates LP now owns 2,320,044 shares of the business services provider’s stock valued at $29,697,000 after purchasing an additional 1,299,537 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of NewtekOne by 3.1% during the 4th quarter. Van ECK Associates Corp now owns 330,655 shares of the business services provider’s stock valued at $5,373,000 after purchasing an additional 10,069 shares in the last quarter. Putnam Investments LLC bought a new position in shares of NewtekOne during the 1st quarter valued at about $2,903,000. Millennium Management LLC boosted its position in shares of NewtekOne by 422.4% during the 2nd quarter. Millennium Management LLC now owns 211,859 shares of the business services provider’s stock valued at $4,010,000 after purchasing an additional 171,306 shares in the last quarter. Finally, Barrett & Company Inc. acquired a new position in shares of NewtekOne in the first quarter worth about $2,342,000. Institutional investors and hedge funds own 26.30% of the company’s stock.
About NewtekOne
NewtekOne, Inc, a financial holding company, provides a range of business and financial solutions to the small- and medium-sized business market. Its business and financial solutions include banking services, business lending, electronic payment processing, ecommerce, accounts receivable financing and inventory financing, insurance solutions, web services, and payroll and benefits solutions, as well as technology solutions, including cloud computing, data backup, storage, retrieval, and IT consulting.