Active Stock Evaluation: Newtek Business Services Corp. (NASDAQ: NEWT) – News Description

Active Stock Evaluation: Newtek Business Services Corp. (NASDAQ: NEWT)

LAKE SUCCESS, N.Y., October 6, 2019 – Shares of Newtek Business Services Corp. (NASDAQ: NEWT) lost -0.73% to $21.72. The stock traded total volume of 117.202K shares higher than the average volume of 117.86K shares.

Newtek Business Services Corp. (NEWT) reported first-quarter profit of $9.10M. On a per-share basis, the Lake Success, New York-based Company said it had net income of 48 cents. Earnings, adjusted for investment gains, came to 44 cents per share.

First Quarter 2019 Financial Highlights

  • Net investment loss of $0.990M, or $(0.05) per share, for the three months ended March 31, 2019; an improvement of 66.7%, on a per share basis, over net investment loss of $2.80M, or $(0.15) per share, for the three months ended March 31, 2018.
  • Adjusted net investment income (“ANII”) of $8.30M, or $0.44 per share, for the three months ended March 31, 2019; contrast to ANII of $8.10M, or $0.44 per share, for the three months ended March 31, 2018.
  • Total investment income of $13.80M for the three months ended March 31, 2019; a boost of 24.4% over total investment income of $11.10M for the three months ended March 31, 2018.
  • Net asset value (“NAV”) of $292.00M, or $15.31 per share, at March 31, 2019; contrast to NAV of $15.19 per share at December 31, 2018, and a boost of 1.7% on a per share basis over NAV of $15.05 per share at March 31, 2018.
  • Total investment portfolio increased by 3.1% to $557.70M at March 31, 2019, from $541.10M at December 31, 2018.
  • Loan referral volume was $5.30B for the three months ended March 31, 2019; a 12.5% increase over $4.70B for the three months ended March 31, 2018.

NEWT has the market capitalization of $416.37M and its EPS growth ratio for the past five years was 13.90%. The return on assets ratio of the Company was 5.70%. Price to sales ratio was 4.19 while 19.00% of the stock was owned by institutional investors.

About the Author

Charles Gibbs
Charles Gibbs
I am Charles Gibbs and I focus on breaking news stories and ensuring we (“News Description”) offer timely reporting on some of the most recent stories released through market wires about “Services” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for News Description specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 577 Mudlick Road Pasco, WA 99301, USA Phone: (+1) 509-542-0261 Email: [email protected]

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