1620 Investment Advisors Inc. Takes Position in NewtekOne, Inc. (NASDAQ:NEWT)

1620 Investment Advisors Inc. purchased a new stake in NewtekOne, Inc. (NASDAQ:NEWT) in the fourth quarter, Holdings Channel.com reports. The fund purchased 33,846 shares of the business services provider’s stock, valued at approximately $432,000.

A number of other large investors have also made changes to their positions in the stock. FMR LLC increased its holdings in shares of NewtekOne by 253.5% in the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 1,835 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in NewtekOne by 137.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,316 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 2,500 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in NewtekOne by 28.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,863 shares of the business services provider’s stock valued at $173,000 after acquiring an additional 3,094 shares in the last quarter. SG Americas Securities LLC increased its holdings in NewtekOne by 39.0% during the 4th quarter. SG Americas Securities LLC now owns 11,274 shares of the business services provider’s stock valued at $144,000 after acquiring an additional 3,166 shares in the last quarter. Finally, State Street Corp increased its holdings in NewtekOne by 1.0% during the 3rd quarter. State Street Corp now owns 474,419 shares of the business services provider’s stock valued at $5,911,000 after acquiring an additional 4,595 shares in the last quarter. Hedge funds and other institutional investors own 38.35% of the company’s stock.

Insider Activity at NewtekOne

In related news, CEO Barry Sloane bought 3,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $12.95 per share, for a total transaction of $38,850.00. Following the completion of the acquisition, the chief executive officer now owns 1,164,855 shares in the company, valued at $15,084,872.25. This trade represents a 0.26 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders purchased 4,750 shares of company stock worth $61,368. 6.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NEWT has been the subject of several recent research reports. B. Riley raised their target price on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Compass Point lifted their price target on shares of NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.50.

NewtekOne Stock Performance

NASDAQ:NEWT opened at $12.50 on Friday. The firm has a 50 day simple moving average of $12.70 and a 200-day simple moving average of $12.95. The company has a debt-to-equity ratio of 4.98, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $328.64 million, a PE ratio of 6.98 and a beta of 1.33. NewtekOne, Inc. has a 1-year low of $10.30 and a 1-year high of $15.49.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. The business had revenue of $75.37 million during the quarter, compared to analyst estimates of $69.55 million. On average, equities analysts expect that NewtekOne, Inc. will post 1.93 EPS for the current year.

NewtekOne Company Profile

NewtekOne, Inc operates as the bank holding company for Newtek Bank, National Association that engages in the provision of various business and financial solutions under the Newtek brand name to the small- and medium-sized business market. The company accepts demand, savings, NOW, money market, and time deposits; and provides loans including SBA loans, commercial and industrial loans, and commercial real estate loans.