Tudor Investment Corp ET AL Reduces Stake in NewtekOne, Inc. $NEWT

Key Points

• Tudor Investment cut its stake in NewtekOne by 82.9% in Q3, selling 90,789 shares and leaving it with 18,784 shares (about 0.07% of the company) worth ~$215,000.
• Several other institutional investors added or increased positions—most notably Patriot Financial purchased a new stake worth ~\$26.4 million—leaving hedge funds and institutions owning about 38.35% of the stock.
• Analysts have an average rating of "Moderate Buy" with a consensus target of \$15.33; NewtekOne trades at a PE of 5.98, has a market cap of ~$378M, reported last-quarter EPS of \$0.65 with revenue that beat estimates, and pays a quarterly dividend of \$0.19 (annualized yield ~5.8%).

Tudor Investment Corp ET AL trimmed its stake in NewtekOne, Inc. (NASDAQ:NEWT - Free Report) by 82.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,784 shares of the business services provider's stock after selling 90,789 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.07% of NewtekOne worth $215,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Patriot Financial Partners GP II L.P. purchased a new stake in shares of NewtekOne during the 3rd quarter valued at approximately $26,423,000. Vanguard Group Inc. lifted its stake in shares of NewtekOne by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,459,051 shares of the business services provider's stock valued at $16,706,000 after buying an additional 26,966 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of NewtekOne by 42.9% during the 2nd quarter. Marshall Wace LLP now owns 623,540 shares of the business services provider's stock valued at $7,034,000 after buying an additional 187,103 shares in the last quarter. North Reef Capital Management LP purchased a new stake in shares of NewtekOne during the 3rd quarter valued at approximately $4,430,000. Finally, AQR Capital Management LLC lifted its stake in shares of NewtekOne by 111.5% during the 2nd quarter. AQR Capital Management LLC now owns 355,847 shares of the business services provider's stock valued at $4,014,000 after buying an additional 187,578 shares in the last quarter. 38.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on NEWT shares. Wall Street Zen upgraded shares of NewtekOne from a "sell" rating to a "hold" rating in a research note on Saturday, March 14th. Keefe, Bruyette & Woods upped their price target on shares of NewtekOne from $13.00 to $14.00 and gave the company a "market perform" rating in a research note on Friday, January 30th. Weiss Ratings restated a "hold (c)" rating on shares of NewtekOne in a research note on Thursday, January 22nd. Finally, Piper Sandler upped their price target on shares of NewtekOne from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $15.33.

NewtekOne Stock Performance

NewtekOne stock opened at $13.10 on Friday. The firm's 50 day simple moving average is $12.12 and its 200 day simple moving average is $11.81. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 6.41. The firm has a market capitalization of $377.67 million, a PE ratio of 5.98 and a beta of 1.22. NewtekOne, Inc. has a 1-year low of $9.51 and a 1-year high of $14.91.

NewtekOne (NASDAQ:NEWT - Get Free Report) last posted its earnings results on Thursday, January 29th. The business services provider reported $0.65 earnings per share for the quarter, hitting analysts' consensus estimates of $0.65. The business had revenue of $120.83 million for the quarter, compared to analyst estimates of $80.01 million. NewtekOne had a net margin of 15.51% and a return on equity of 18.83%. As a group, analysts expect that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Tuesday, March 24th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend was Tuesday, March 24th. NewtekOne's dividend payout ratio is 34.70%.

About NewtekOne

NewtekOne, Inc NASDAQ: NEWT is a publicly traded business development company that specializes in providing financial and business services to small and medium‐sized enterprises across the United States. Operating under the trade name The Newtek Small Business Finance, the company offers a diversified array of lending solutions designed to meet the working capital, equipment acquisition and growth needs of its clients.

The company's core lending offerings include Small Business Administration (SBA) 7(a) loans, equipment financing, lines of credit and commercial real estate financing.

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