Insider Buying Boosts NewtekOne Stock Outlook

Recent reports highlight CEO Barry Sloane's significant insider purchase in NewtekOne, investing over $471K at $11.75 per share. With the stock showing an upward trend, this move may signal further confidence in the company's future performance.

Date: 24-09-2024

AI Rating: 7

Insider buying often serves as a strong indicator of confidence in a company's prospects. CEO Barry Sloane's recent purchase of $471,560 worth of NewtekOne (NEWT) shares at a price of $11.75 demonstrates a positive sentiment regarding the company's future performance. This buying activity is noteworthy, especially since Sloane has previously invested $457,930 over the past twelve months, averaging $13.13 per share.

The fact that Sloane's recent transaction is at a lower price than past purchases could reflect a strategic decision to capitalize on perceived undervaluation in the market.

As the stock is trading up about 2% on the day of the purchase, it showcases investor optimism. Furthermore, Sloane is currently experiencing a 3.1% gain based on today's trading high of $12.11.

Stocks: NEWT