On September 23, 2024, Barry Sloane, Chairman and Chief Executive Officer of NewtekOne Inc (NEWT, Financial), purchased 40,134 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns a total of 1,147,323 shares of NewtekOne Inc.
NewtekOne Inc, a business services company, provides a range of financial and business services to the small and medium-sized business market. Its services include lending, payments, technology, payroll, and insurance solutions.
Over the past year, Barry Sloane has been actively increasing his stake in the company, with a total of 75,015 shares purchased and no shares sold. This recent acquisition aligns with a broader trend of insider buying at NewtekOne Inc, which has seen 16 insider buys over the past year, compared to 11 insider sells.
Shares of NewtekOne Inc were priced at $11.75 on the day of the transaction, giving the company a market cap of approximately $313.906 million. The stock's price-earnings ratio stands at 6.14, below both the industry median of 10.33 and the company’s historical median.
According to the GF Value, the intrinsic value of NewtekOne Inc is estimated at $30.59 per share, suggesting that the stock is significantly undervalued with a price-to-GF-Value ratio of 0.38.
This insider buying activity could be a signal to investors about the perceived undervaluation and potential growth prospects of NewtekOne Inc, as seen through the eyes of its Chairman and CEO.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
