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Top Buys by Top Brass: CEO Sloane's $270.6K Bet on NEWTBy Dividend Channel Staff, Monday, April 3, 12:03 PM ETA company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $270.6K invested across 2 purchases by Barry Sloane, CEO at NewtekOne Inc (NASDAQ:NEWT). Sloane bets big on NEWT:
Sloane's average cost works out to $13.53/share. In trading on Monday, bargain hunters could buy shares of NewtekOne Inc (NASDAQ:NEWT) and achieve a cost basis lower than Sloane, with shares changing hands as low as $12.25 per share. Shares of NewtekOne Inc were changing hands at $12.30 at last check, trading down about 2.3% on Monday. The chart below shows the one year performance of NEWT shares, versus its 200 day moving average:
Looking at the chart above, NEWT's low point in its 52 week range is $11.19 per share, with $27.1799 as the 52 week high point — that compares with a last trade of $12.30. The current annualized dividend paid by NewtekOne Inc is $0.72/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 04/03/2023. Below is a long-term dividend history chart for NEWT, which can be of good help in judging whether the most recent dividend with approx. 5.6% annualized yield is likely to continue.
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