Salvatore Mulia, a director of NewtekOne, Inc. (NASDAQ:NEWT), has recently sold a portion of his holdings in the company. On May 21, 2024, Mulia sold 750 shares of NewtekOne common stock at a price of $13.16 per share, totaling $9,870. This transaction was carried out under a prearranged 10b5-1 trading plan that Mulia had adopted on June 20, 2023.
The sale of shares by a company director is often closely watched by investors as it can provide insights into the insider's perspective on the company's current valuation and future prospects. Following this transaction, Mulia's remaining stake in NewtekOne consists of 45,809 shares, indicating a continued vested interest in the company's performance.
NewtekOne, known for its services in the commercial banking sector, has its headquarters in Boca Raton, Florida. As with any insider transaction, investors may look to such moves for hints at the company's health and the confidence level of its leaders. However, it's important to note that insider transactions can be motivated by a variety of personal financial needs or strategic planning considerations and not solely by the insider’s view of the company's future.
Investors and stakeholders of NewtekOne, Inc. can stay informed of further insider transactions by monitoring future SEC filings and press releases from the company.
InvestingPro Insights
As investors assess the implications of Salvatore Mulia's recent sale of shares in NewtekOne, Inc. (NASDAQ:NEWT), it is crucial to consider the company's financial health and market performance. According to the latest data from InvestingPro, NewtekOne's market capitalization stands at $332.42 million, and the company boasts a price-to-earnings (P/E) ratio of 8.87, which slightly adjusts to 9.01 when looking at the last twelve months as of Q1 2024. This relatively low P/E ratio may suggest that the stock is undervalued compared to its earnings.
The company has demonstrated robust revenue growth over the past year, with a significant 76.21% increase in the last twelve months as of Q1 2024. This is complemented by a strong gross profit margin of 83.61%, indicating efficient management and a solid business model within the commercial banking sector. Moreover, NewtekOne has maintained a consistent dividend yield, currently at 5.76%, which has grown by 5.56% over the last twelve months as of Q1 2024. This consistent dividend payment history, which spans 10 consecutive years, underscores the company's commitment to returning value to shareholders.
InvestingPro Tips reveal that NewtekOne has a high shareholder yield and has been profitable over the last twelve months. These factors, combined with the company's strong return over the last month of 21.1% and over the last three months of 17.88%, could be indicative of positive investor sentiment and a potentially attractive investment opportunity. Analysts predict the company will continue to be profitable this year, which is an encouraging sign for potential investors.
For those interested in a deeper dive into NewtekOne's financials and future prospects, InvestingPro offers additional tips and insights. By using the coupon code PRONEWS24, readers can receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to a wealth of information to inform their investment decisions. With 7 more InvestingPro Tips available, investors can gain a comprehensive understanding of NewtekOne's potential in the market.
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