BidaskClub Downgrades NEWTEK Business Services (NASDAQ:NEWT) to Strong Sell

NEWTEK Business Services (NASDAQ:NEWT) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Tuesday, BidAskClub reports.

Several other research firms have also weighed in on NEWT. Raymond James lowered shares of NEWTEK Business Services from a “market perform” rating to an “underperform” rating in a research note on Wednesday, January 8th. Zacks Investment Research lowered shares of NEWTEK Business Services from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. TheStreet lowered shares of NEWTEK Business Services from a “b” rating to a “c+” rating in a report on Monday, December 2nd. Finally, ValuEngine downgraded shares of NEWTEK Business Services from a “hold” rating to a “sell” rating in a research report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. NEWTEK Business Services currently has a consensus rating of “Sell” and an average target price of $22.50.

Shares of NEWTEK Business Services stock traded up $0.04 during trading on Tuesday, reaching $21.83. The company had a trading volume of 1,913 shares, compared to its average volume of 172,759. The company has a market cap of $431.88 million, a price-to-earnings ratio of 11.25 and a beta of 1.21. The firm’s fifty day moving average is $22.86 and its 200-day moving average is $22.40. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.31 and a current ratio of 0.31. NEWTEK Business Services has a fifty-two week low of $18.11 and a fifty-two week high of $23.99.

NEWTEK Business Services (NASDAQ:NEWT) last released its earnings results on Wednesday, November 6th. The business services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.07. NEWTEK Business Services had a return on equity of 14.42% and a net margin of 61.37%. The company had revenue of $16.02 million for the quarter, compared to the consensus estimate of $13.68 million. On average, research analysts anticipate that NEWTEK Business Services will post 2.37 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Stifel Financial Corp grew its holdings in shares of NEWTEK Business Services by 1.9% during the third quarter. Stifel Financial Corp now owns 41,779 shares of the business services provider’s stock valued at $941,000 after purchasing an additional 771 shares during the last quarter. American Asset Management Inc. boosted its position in NEWTEK Business Services by 3.3% during the 3rd quarter. American Asset Management Inc. now owns 33,903 shares of the business services provider’s stock worth $766,000 after acquiring an additional 1,075 shares during the period. AE Wealth Management LLC boosted its position in NEWTEK Business Services by 12.8% during the 3rd quarter. AE Wealth Management LLC now owns 23,069 shares of the business services provider’s stock worth $521,000 after acquiring an additional 2,625 shares during the period. Marshall Wace North America L.P. bought a new position in shares of NEWTEK Business Services in the first quarter worth $67,000. Finally, Wells Fargo & Company MN grew its stake in shares of NEWTEK Business Services by 12.7% in the second quarter. Wells Fargo & Company MN now owns 35,745 shares of the business services provider’s stock worth $822,000 after purchasing an additional 4,015 shares in the last quarter. 17.08% of the stock is owned by institutional investors.

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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