Brookstone Capital Management Boosts Stock Holdings in Newtek Business Services Corp. (NASDAQ:NEWT)
Brookstone Capital Management grew its holdings in Newtek Business Services Corp. (NASDAQ:NEWT – Get Rating) by 3.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 19,665 shares of the business services provider’s stock after buying an additional 740 shares during the quarter. Brookstone Capital Management’s holdings in Newtek Business Services were worth $493,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also made changes to their positions in NEWT. Two Sigma Investments LP grew its stake in Newtek Business Services by 977.1% in the 3rd quarter. Two Sigma Investments LP now owns 129,427 shares of the business services provider’s stock valued at $3,589,000 after buying an additional 117,411 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Newtek Business Services by 14.8% in the fourth quarter. Van ECK Associates Corp now owns 370,509 shares of the business services provider’s stock valued at $10,237,000 after purchasing an additional 47,634 shares in the last quarter. Ahrens Investment Partners LLC bought a new stake in shares of Newtek Business Services during the 4th quarter valued at $44,000. D.A. Davidson & CO. lifted its holdings in Newtek Business Services by 11.2% during the 4th quarter. D.A. Davidson & CO. now owns 89,728 shares of the business services provider’s stock worth $2,479,000 after purchasing an additional 9,025 shares in the last quarter. Finally, AE Wealth Management LLC boosted its stake in Newtek Business Services by 3.4% in the 4th quarter. AE Wealth Management LLC now owns 20,618 shares of the business services provider’s stock worth $570,000 after purchasing an additional 683 shares during the period. Institutional investors own 25.22% of the company’s stock.
Shares of NASDAQ:NEWT opened at $18.65 on Monday. The firm has a fifty day moving average price of $23.93 and a two-hundred day moving average price of $25.98. The company has a market cap of $450.60 million, a price-to-earnings ratio of 6.78 and a beta of 1.07. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.91 and a quick ratio of 2.91. Newtek Business Services Corp. has a one year low of $17.65 and a one year high of $36.41.
Newtek Business Services (NASDAQ:NEWT – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The business services provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. Newtek Business Services had a return on equity of 18.95% and a net margin of 93.16%. The company had revenue of $20.35 million for the quarter, compared to the consensus estimate of $21.20 million. Equities research analysts expect that Newtek Business Services Corp. will post 2.6 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Monday, June 20th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 16.09%. This is a boost from Newtek Business Services’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, June 16th. Newtek Business Services’s dividend payout ratio is 109.09%.
In related news, CEO Barry Sloane bought 4,200 shares of the company’s stock in a transaction on Wednesday, May 18th. The stock was acquired at an average cost of $24.20 per share, for a total transaction of $101,640.00. Following the completion of the transaction, the chief executive officer now directly owns 988,016 shares in the company, valued at approximately $23,909,987.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.10% of the company’s stock.
Separately, StockNews.com assumed coverage on shares of Newtek Business Services in a report on Thursday, March 31st. They issued a “hold” rating on the stock.
About Newtek Business Services (Get Rating)
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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