Key Points
- Major shareholder Conyers Investments sold 32,416 Newsmax shares at an average price of $11.02, generating $357,224.32. The sale reduced its ownership by 0.14%, leaving it with 22.76 million shares valued at approximately $250.85 million.
- Newsmax reported quarterly EPS of $0.02, beating the consensus estimate of a $0.03 loss, on revenue of $54.12 million. However, the company posted a negative net margin of 3.15% and analysts expect a full-year loss.
- Analyst sentiment remains negative: Weiss Ratings reiterated a “sell” rating, and MarketBeat reports an average rating of “Sell.” The stock recently opened at $10.55, compared with a 12-month range of $5.11 to $15.81.
Newsmax Inc. (NYSE:NMAX - Get Free Report) major shareholder Conyers Investments Llc sold 32,416 shares of the company's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $11.02, for a total value of $357,224.32. Following the completion of the transaction, the insider directly owned 22,762,939 shares of the company's stock, valued at $250,847,587.78. This trade represents a 0.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Newsmax Price Performance
Shares of NYSE:NMAX opened at $10.55 on Thursday. Newsmax Inc. has a 12 month low of $5.11 and a 12 month high of $15.81. The firm has a market capitalization of $1.36 billion, a P/E ratio of -211.00 and a beta of 2.55. The company's fifty day moving average price is $8.66 and its 200 day moving average price is $7.46.
Newsmax (NYSE:NMAX - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.05. The company had revenue of $54.12 million during the quarter. Newsmax had a negative net margin of 3.15% and a negative return on equity of 8.28%. On average, sell-side analysts anticipate that Newsmax Inc. will post -0.07 EPS for the current year.
Hedge Funds Weigh In On Newsmax
Several institutional investors have recently bought and sold shares of NMAX. UBS Group AG lifted its holdings in shares of Newsmax by 4,495.3% in the 4th quarter. UBS Group AG now owns 421,342 shares of the company's stock valued at $3,257,000 after buying an additional 412,173 shares during the period. Greenwich Wealth Management LLC purchased a new stake in Newsmax in the 4th quarter valued at approximately $176,208,000. AXQ Capital LP lifted its position in shares of Newsmax by 78.8% in the fourth quarter. AXQ Capital LP now owns 20,682 shares of the company's stock valued at $160,000 after acquiring an additional 9,117 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in Newsmax by 15.1% in the 4th quarter. Foundations Investment Advisors LLC now owns 13,048 shares of the company's stock valued at $101,000 after purchasing an additional 1,711 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Newsmax in the 4th quarter valued at about $79,000.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Newsmax in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Newsmax has an average rating of "Sell".
View Our Latest Analysis on NMAX
About Newsmax
(
Get Free Report)
Newsmax (NYSE:NMAX) is a diversified media company that produces and distributes conservative-oriented news, opinion and informational content. The company operates across multiple platforms, including a cable news channel, a digital streaming service, a website, a print magazine and various mobile applications. Newsmax focuses on delivering political coverage, financial analysis and cultural commentary to its audience.
Originally launched as a news website in 1998, Newsmax expanded into print with the debut of Newsmax magazine in 2003 and later launched its flagship cable network, Newsmax TV, in 2014.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
