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Newtek Business Services Corp is Now Oversold
Tuesday, January 30, 5:08 PM ET, by Market News Video Staff

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Tuesday, June 5, 11:49 AM ET, by Market News Video Staff

In trading on Tuesday, shares of Newtek Business Services Corp (NEWT) crossed below their 200 ...

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Tuesday, June 12, 11:05 AM ET, by Market News Video Staff

On 6/14/18, Newtek Business Services Corp (NEWT) will trade ex-dividend, for its quarterly dividend of ...

Will Insiders Be Tempted To Buy More NEWT At The New 52-Week Low?

By Market News Video Staff, Thursday, December 20, 1:48 PM ET
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In trading on Thursday, shares of Newtek Business Services Corp (NASDAQ:NEWT) touched a new 52-week low of $15.91/share. That's a $8.33 share price drop, or -34.36% decline from the 52-week high of $24.24 set back on 08/14/2018. Large percentage drops always require that the stock post even larger percentage gains from the low in order to recover the old price point, and for NEWT that means the stock would have to gain 52.36% to get back to the 52-week high. For a move like that, Newtek Business Services Corp would need fundamental strength at the business level.

Here's a rhetorical question: Who knows more about fundamentals at the business level than the company's own insiders? So let's take a look to see whether any company insiders were taking the other side of the trade as NEWT shares were being sold down to this new 52-week low, focusing on the most recent trailing six month period. As summarized by the table below, NEWT has seen 3 different instances of insiders buying over the past six months.

Purchased Insider Title Shares Price/Share Value
08/30/2018 Barry Sloane Chairman & CEO 1,000 $23.17 $23,170.00
08/31/2018 Gregory L. Zink Director 500 $23.20 $11,600.00
09/20/2018 Salvatore Francis Mulia Director 187 $21.81 $4,078.34
11/14/2018 Barry Sloane Chairman & CEO 500 $19.47 $9,735.00
12/06/2018 Barry Sloane Chairman & CEO 1,000 $20.10 $20,100.00
12/07/2018 Gregory L. Zink Director 500 $20.04 $10,018.00
12/11/2018 Salvatore Francis Mulia Director 500 $19.99 $9,996.00
12/20/2018 Barry Sloane Chairman & CEO 3,000 $16.46 $49,381.00

In the short run, while the new 52-week low suggests the stock is at the cheapest price and perhaps therefore the best bargain it has been over the last 52 weeks, the low print also means anyone who has purchased the stock over that timeframe is staring at an unrealized loss. Oftentimes, that factor drives a stock's technical analysis metrics by creating overhead resistance, with investors who bought higher now anxious to reverse their trade once they are back to breakeven. The chart below shows where NEWT has traded over the past year, with the 50-day and 200-day moving averages included.

Newtek Business Services Corp Moving Averages Chart

Time will tell whether the insider purchases foretell a future rebound for NEWT shares, which are presently showing a last trade of $16.02/share, slightly above the new 52-week low.


This Article's Word Cloud:   Bargains   Barry   Business   Chairman   Cheaper   Corp   Director   Francis   Gregory   Here   Insider   Insiders   Large   Mulia   NEWT   Newtek   Oftentimes   Price   Purchased   Salvatore   Services   Share   Shares   Sloane   Start   Zink   back   below   business   company   from   high   insiders   last   level   means   over   past   percentage   price   share   shares   stock   that   trade   week   were   whether   with   would
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