Tudor Investment Corp ET AL Sells 90,789 Shares of NewtekOne, Inc. $NEWT

Key Points

• Tudor Investment Corp cut its NewtekOne stake by 82.9%, selling 90,789 shares and ending the quarter with 18,784 shares worth about $215,000.
• NewtekOne reported EPS of $0.65 (in line) and revenue of $120.83 million (well above estimates), and pays a quarterly dividend of $0.19 — an annualized yield of about 6.9% with a 34.7% payout ratio.
• Company insiders (including the CEO) have been buying shares—insiders now own 6.7%—institutional ownership is ~38.35%, and analysts' consensus is a "Moderate Buy" with an average price target of $15.33.

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

Other hedge funds have also recently added to or reduced their stakes in the company. Prudential Financial Inc. grew its stake in shares of NewtekOne by 190.5% in the 2nd quarter. Prudential Financial Inc. now owns 212,228 shares of the business services provider's stock worth $2,394,000 after acquiring an additional 139,177 shares in the last quarter. North Reef Capital Management LP bought a new stake in shares of NewtekOne during the third quarter valued at about $4,430,000. Jane Street Group LLC boosted its stake in NewtekOne by 24.7% during the first quarter. Jane Street Group LLC now owns 36,676 shares of the business services provider's stock valued at $439,000 after buying an additional 7,274 shares during the period. Rhumbline Advisers increased its stake in NewtekOne by 6.1% in the 2nd quarter. Rhumbline Advisers now owns 36,433 shares of the business services provider's stock worth $411,000 after acquiring an additional 2,108 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in NewtekOne by 33.4% in the first quarter. Royal Bank of Canada now owns 23,639 shares of the business services provider's stock valued at $282,000 after purchasing an additional 5,916 shares in the last quarter. Institutional investors own 38.35% of the company's stock.

NewtekOne Price Performance

NEWT stock opened at $11.04 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 6.41. The company has a fifty day simple moving average of $12.46 and a two-hundred day simple moving average of $11.80. The firm has a market capitalization of $318.28 million, a P/E ratio of 5.04 and a beta of 1.22. NewtekOne, Inc. has a 52 week low of $9.12 and a 52 week high of $14.91.

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

NewtekOne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 24th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend was Tuesday, March 24th. NewtekOne's payout ratio is currently 34.70%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NEWT. Wall Street Zen upgraded shares of NewtekOne from a "sell" rating to a "hold" rating in a research report on Saturday, March 14th. Piper Sandler increased their price objective on NewtekOne from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Monday, February 9th. Keefe, Bruyette & Woods increased their price target on shares of NewtekOne from $13.00 to $14.00 and gave the company a "market perform" rating in a research report on Friday, January 30th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of NewtekOne in a research note on Thursday, January 22nd. One 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.com, NewtekOne presently has an average rating of "Moderate Buy" and an average price target of $15.33.

Insider Transactions at NewtekOne

In related news, insider Michael Adam Schwartz purchased 2,247 shares of NewtekOne stock in a transaction that occurred on Wednesday, January 14th. The shares were bought at an average price of $13.91 per share, with a total value of $31,255.77. Following the purchase, the insider directly owned 49,713 shares of the company's stock, valued at approximately $691,507.83. This represents a 4.73% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Barry Sloane acquired 3,595 shares of the stock in a transaction that occurred on Wednesday, January 14th. The stock was acquired at an average cost of $13.91 per share, with a total value of $50,006.45. Following the completion of the purchase, the chief executive officer owned 1,194,180 shares of the company's stock, valued at $16,611,043.80. This trade represents a 0.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 8,656 shares of company stock worth $120,405. Company insiders own 6.70% of the company's stock.

NewtekOne Profile

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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