Royce & Associates LP Decreases Stock Position in NewtekOne, Inc. (NASDAQ:NEWT)

Royce & Associates LP trimmed its position in shares of NewtekOne, Inc. (NASDAQ:NEWT) by 40.4% in the 4th quarter, Holdings Channel reports. The firm owned 447,461 shares of the business services provider’s stock after selling 303,831 shares during the period. Royce & Associates LP’s holdings in NewtekOne were worth $5,714,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC grew its stake in NewtekOne by 156.0% during the 3rd quarter. Quest Partners LLC now owns 33,618 shares of the business services provider’s stock valued at $419,000 after acquiring an additional 20,488 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of NewtekOne by 245.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,226 shares of the business services provider’s stock worth $1,137,000 after purchasing an additional 64,790 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of NewtekOne in the third quarter valued at approximately $197,000. FMR LLC increased its holdings in shares of NewtekOne by 253.5% in the third 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 during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in NewtekOne by 28.7% during the third quarter. BNP Paribas Financial Markets now owns 13,863 shares of the business services provider’s stock worth $173,000 after buying an additional 3,094 shares in the last quarter. 38.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NewtekOne

In other news, CEO Barry Sloane purchased 3,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $12.95 per share, for a total transaction of $38,850.00. Following the completion of the transaction, the chief executive officer now directly owns 1,164,855 shares in the company, valued at approximately $15,084,872.25. This represents a 0.26 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders have bought a total of 4,750 shares of company stock valued at $61,368 over the last quarter. 6.50% of the stock is owned by company insiders.

NewtekOne Price Performance

NEWT stock opened at $12.51 on Thursday. NewtekOne, Inc. has a 52-week low of $10.07 and a 52-week high of $15.49. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98. The stock has a market cap of $329.08 million, a price-to-earnings ratio of 6.99 and a beta of 1.33. The business has a fifty day moving average of $12.70 and a two-hundred day moving average of $12.95.

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

Analysts Set New Price Targets

Separately, B. Riley lifted their price target on NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th.

NewtekOne 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.