Is Newtek Business Services Corporation MA (NASDAQ:NEWT) a Buy? The Stock Reported Less Sellers

July 18, 2017 - By Clifton Ray

 Is Newtek Business Services Corporation MA (NASDAQ:NEWT) a Buy? The Stock Reported Less Sellers

Investors sentiment decreased to 0.83 in 2016 Q4. Its down 0.92, from 1.75 in 2016Q3. It fall, as 9 investors sold NEWTEK Business Services Corp shares while 14 reduced holdings. 12 funds opened positions while 7 raised stakes. 2.68 million shares or 2.38% less from 2.75 million shares in 2016Q3 were reported.
Opus Invest Mgmt stated it has 0.01% in NEWTEK Business Services Corp (NASDAQ:NEWT). Commercial Bank Of America De holds 139,812 shares. Hightower Advsrs Limited Com holds 16,917 shares or 0% of its portfolio. Creative Planning holds 0% or 5,440 shares. Bridgeway accumulated 18,200 shares or 0% of the stock. D E Shaw And, a New York-based fund reported 17,424 shares. Prelude Cap Ltd Liability Corporation holds 1,500 shares. Stifel Fin reported 27,240 shares. Manchester Cap Mngmt Ltd Com stated it has 333 shares. Barclays Public Limited owns 0% invested in NEWTEK Business Services Corp (NASDAQ:NEWT) for 35 shares. Wells Fargo And Communication Mn holds 0% in NEWTEK Business Services Corp (NASDAQ:NEWT) or 2,743 shares. Asset Management, a Florida-based fund reported 14,250 shares. Moreover, Perritt Capital Mngmt Inc has 0.09% invested in NEWTEK Business Services Corp (NASDAQ:NEWT). 165,597 were reported by Bard Associates. Wellington Mgmt Gru Llp stated it has 697,337 shares.

The stock of Newtek Business Services Corporation MA (NASDAQ:NEWT) registered a decrease of 14.28% in short interest. NEWT’s total short interest was 463,000 shares in July as published by FINRA. Its down 14.28% from 540,100 shares, reported previously. With 108,200 shares average volume, it will take short sellers 4 days to cover their NEWT’s short positions. The short interest to Newtek Business Services Corporation MA’s float is 3%.

The stock increased 1.51% or $0.25 during the last trading session, reaching $16.8. About shares traded. NEWTEK Business Services Corp (NASDAQ:NEWT) has risen 37.63% since July 18, 2016 and is uptrending. It has outperformed by 20.93% the S&P500.

Newtek Business Services Corp. is an internally managed non-diversified closed-end management investment company. The company has market cap of $290.93 million. The Company’s investment objective is to generate both current income and capital appreciation primarily through loans originated by its small business finance platform and its equity investments in certain portfolio companies that it controls. It currently has negative earnings. The Firm is a national non-bank lender that provides, together with its controlled portfolio companies, a range of business services and financial products under the Newtek brand to the small and medium-sized business market.

NEWTEK Business Services Corp (NASDAQ:NEWT) Ratings Coverage

Among 5 analysts covering Newtech (NASDAQ:NEWT), 3 have Buy rating, 0 Sell and 2 Hold. Therefore 60% are positive. Newtech had 11 analyst reports since August 3, 2015 according to SRatingsIntel. Keefe Bruyette & Woods downgraded the stock to “Mkt Perform” rating in Tuesday, November 29 report. DA Davidson initiated NEWTEK Business Services Corp (NASDAQ:NEWT) rating on Thursday, June 16. DA Davidson has “Buy” rating and $16 target. The stock of NEWTEK Business Services Corp (NASDAQ:NEWT) earned “Neutral” rating by Compass Point on Thursday, September 17. The stock of NEWTEK Business Services Corp (NASDAQ:NEWT) has “Market Perform” rating given on Thursday, October 22 by Raymond James. Raymond James maintained the stock with “Outperform” rating in Monday, August 15 report. As per Friday, May 5, the company rating was upgraded by Compass Point. The stock of NEWTEK Business Services Corp (NASDAQ:NEWT) earned “Outperform” rating by Raymond James on Tuesday, November 10. The stock has “Neutral” rating by Compass Point on Wednesday, May 24. The rating was reinitiated by Keefe Bruyette & Woods with “Hold” on Tuesday, May 30. Singular Research maintained the stock with “Buy” rating in Monday, August 3 report.

More notable recent NEWTEK Business Services Corp (NASDAQ:NEWT) news were published by: Globenewswire.com which released: “Newtek Business Services Corp. Acquires banc-serv Partners, LLC” on June 29, 2016, also Nasdaq.com with their article: “Newtek Business Services Corp. (NEWT) Ex-Dividend Date Scheduled for May 26, 2017” published on May 25, 2017, Globenewswire.com published: “Newtek Business Services Corp. Announces Public Offering of Common Stock” on January 24, 2017. More interesting news about NEWTEK Business Services Corp (NASDAQ:NEWT) were released by: Globenewswire.com and their article: “Newtek Business Services Corp. Launches Newly Redesigned Website at www …” published on April 18, 2017 as well as Seekingalpha.com‘s news article titled: “Newtek Business Services Is Currently Undervalued By 25%” with publication date: March 24, 2016.

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