Y Intercept Hong Kong Ltd Purchases Shares of 29,473 NewtekOne, Inc. (NASDAQ:NEWT)

Y Intercept Hong Kong Ltd acquired a new position in shares of NewtekOne, Inc. (NASDAQ:NEWT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 29,473 shares of the business services provider’s stock, valued at approximately $367,000.

Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in NewtekOne by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 184,053 shares of the business services provider’s stock valued at $2,314,000 after acquiring an additional 6,640 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of NewtekOne in the 2nd quarter valued at about $62,000. Rhumbline Advisers grew its stake in NewtekOne by 12.0% during the 2nd quarter. Rhumbline Advisers now owns 33,665 shares of the business services provider’s stock worth $423,000 after buying an additional 3,617 shares during the last quarter. American Century Companies Inc. increased its position in NewtekOne by 27.2% during the second quarter. American Century Companies Inc. now owns 190,712 shares of the business services provider’s stock worth $2,397,000 after buying an additional 40,738 shares during the period. Finally, Cornercap Investment Counsel Inc. purchased a new stake in NewtekOne in the second quarter valued at approximately $506,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

NewtekOne Trading Down 3.6 %

NASDAQ NEWT opened at $13.59 on Tuesday. NewtekOne, Inc. has a 52-week low of $10.07 and a 52-week high of $15.49. The firm has a 50-day moving average price of $13.81 and a 200 day moving average price of $13.09. The stock has a market capitalization of $357.48 million, a P/E ratio of 7.59 and a beta of 1.30. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98.

NewtekOne (NASDAQ:NEWT) last released its earnings results on Wednesday, November 6th. The business services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. The company had revenue of $83.12 million during the quarter, compared to the consensus estimate of $61.76 million. During the same quarter last year, the company earned $0.38 earnings per share. Equities research analysts expect that NewtekOne, Inc. will post 1.93 EPS for the current year.

Insider Transactions at NewtekOne

In other NewtekOne news, CEO Barry Sloane acquired 3,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were purchased at an average cost of $14.75 per share, with a total value of $44,250.00. Following the purchase, the chief executive officer now owns 1,161,855 shares in the company, valued at approximately $17,137,361.25. The trade was a 0.26 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have bought 45,634 shares of company stock valued at $547,020 in the last quarter. 6.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NEWT has been the topic of a number of research reports. Piper Sandler raised their target price on shares of NewtekOne from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $15.00 price objective (up from $13.00) on shares of NewtekOne in a research note on Friday, November 8th. Finally, B. Riley downgraded shares of NewtekOne from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $16.00 to $13.00 in a research note on Wednesday, September 4th.

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.