November 16, 2016 - By Adrian Mccoy · 0 Comments
Newtek Business Services Inc (NASDAQ:NEWT) institutional sentiment decreased to 1.21 in Q2 2016. Its down -0.23, from 1.44 in 2016Q1. The ratio worsened, as 23 funds increased or opened new stock positions, while 19 cut down and sold their equity positions in Newtek Business Services Inc. The funds in our partner’s database now have: 2.88 million shares, down from 3.35 million shares in 2016Q1. Also, the number of funds holding Newtek Business Services Inc in their top 10 stock positions was flat from 0 to 0 for the same number . Sold All: 10 Reduced: 9 Increased: 10 New Position: 13.
Newtek Business Services Corp. is a non-diversified closed-end management investment company. The company has a market cap of $219.62 million. The Firm is engaged in non-bank lending providing a range of business services and financial products under the Newtek brand to the small- and medium-sized business market. It currently has negative earnings. The Company’s services and products consist of Business Lending, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), e-commerce, Accounts Receivable Financing, The Secure Gateway, The Newtek Advantage, personal and commercial Insurance Services, Web Services, Data Backup, Storage and Retrieval, and Payroll Solutions.
About 69,505 shares traded hands. NEWTEK Business Services Corp (NASDAQ:NEWT) has risen 20.11% since April 14, 2016 and is uptrending. It has outperformed by 15.43% the S&P500.
According to Zacks Investment Research, “Newtek Capital, Inc. resulted from the combination of the businesses previously owned by BJB Holdings, Inc. and REXX Environmental Corporation and is operating as a holding company for a network of partner companies in a collaborative and coordinated effort to develop successful businesses in a number of existing as well as emerging, technological business lines.”
Bard Associates Inc holds 1.07% of its portfolio in NEWTEK Business Services Corp for 158,698 shares. West Family Investments Inc. owns 226,647 shares or 0.53% of their US portfolio. Moreover, Northpointe Capital Llc has 0.33% invested in the company for 217,417 shares. The Ohio-based Zelman Capital Llc has invested 0.27% in the stock. Perritt Capital Management Inc, a Illinois-based fund reported 36,059 shares.#img1#
Ratings analysis reveals 80% of Newtech’s analysts are positive. Out of 5 Wall Street analysts rating Newtech, 4 give it “Buy”, 0 “Sell” rating, while 1 recommend “Hold”. The lowest target is $15 while the high is $22. The stock’s average target of $17.30 is 15.64% above today’s ($14.96) share price. NEWT was included in 7 notes of analysts from August 3, 2015. The company was maintained on Monday, August 15 by Raymond James. Singular Research maintained it with “Buy” rating and $22 target price in Monday, August 3 report. The rating was initiated by DA Davidson on Thursday, June 16 with “Buy”. Compass Point initiated the stock with “Neutral” rating in Thursday, September 17 report. The stock has “Market Perform” rating given by Raymond James on Thursday, October 22. The firm earned “Outperform” rating on Thursday, December 10 by Keefe Bruyette & Woods. As per Tuesday, November 10, the company rating was upgraded by Raymond James.
Newtek Business Services Corp., incorporated on August 26, 2013, is a non-diversified closed-end management investment company. The Firm is engaged in non-bank lending providing a range of business services and financial products under the Newtek brand to the small- and medium-sized business (SMB) market. The Company’s services and products consist of Business Lending, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), e-commerce, Accounts Receivable Financing, The Secure Gateway, The Newtek Advantage, personal and commercial Insurance Services, Web Services, Data Backup, Storage and Retrieval, and Payroll Solutions. The Firm offers services along with its controlled portfolio companies.
More notable recent NEWTEK Business Services Corp (NASDAQ:NEWT) news were published by: Reuters.com which released: “BRIEF-Newtek Business Services Corp. reports Q3 financial results” on November 02, 2016, also Quotes.Wsj.com with their article: “News Newtek Business Services Corp.NEWT” published on February 11, 2011, Marketwatch.com published: “Newtek Business Services Corp.” on December 21, 2009. More interesting news about NEWTEK Business Services Corp (NASDAQ:NEWT) were released by: Nasdaq.com and their article: “Newtek Business Services Corp. Reports Third Quarter 2016 Financial Results” published on November 02, 2016 as well as Prnewswire.com‘s news article titled: “Newtek Business Services Corp. Acquires Premier Payments LLC” with publication date: July 27, 2015.
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By Adrian Mccoy