On September 13, 2023, Peter Downs, the Chief Lending Officer of NewtekOne Inc (NEWT, Financial), purchased 500 shares of the company. This move is significant as it indicates the insider's confidence in the company's future prospects.
Peter Downs is a seasoned executive with extensive experience in the financial sector. As the Chief Lending Officer at NewtekOne Inc, he is responsible for overseeing the company's lending operations and ensuring the company's financial stability and growth.
NewtekOne Inc is a leading provider of business services and financial products to the small- and medium-sized business market. The company offers a wide range of services, including business lending, electronic payment processing, managed technology solutions, and insurance services. With its diverse portfolio of services, NewtekOne Inc is well-positioned to meet the evolving needs of its clients.
Over the past year, Peter Downs has purchased a total of 1,500 shares and has not sold any shares. This trend suggests that the insider has a positive outlook on the company's future performance.
The insider transaction history for NewtekOne Inc shows a total of 17 insider buys over the past year, with no insider sells recorded over the same period. This trend indicates a strong vote of confidence from the company's insiders, which could be a positive signal for potential investors.
On the day of the insider's recent buy, shares of NewtekOne Inc were trading at $16.1 each, giving the company a market cap of $405.834 million. The stock's price-earnings ratio stands at 14.95, which is higher than both the industry median of 8.39 and the company's historical median price-earnings ratio.
According to the GuruFocus Value, which is calculated based on historical multiples, a GuruFocus adjustment factor, and future business performance estimates, NewtekOne Inc has a price-to-GF-Value ratio of 0.67. With a price of $16.1 and a GuruFocus Value of $23.98, the stock is considered a possible value trap, suggesting investors should think twice before investing.
In conclusion, the insider's recent purchase of NewtekOne Inc shares, coupled with the company's strong insider buying trend, could be a positive signal for the stock. However, potential investors should also consider the company's valuation and other financial indicators before making an investment decision.
