Newsmax Inc. (NYSE:NMAX - Get Free Report) major shareholder Conyers Investments Llc sold 13,350 shares of Newsmax stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $11.04, for a total transaction of $147,384.00. Following the sale, the insider directly owned 22,749,589 shares of the company's stock, valued at $251,155,462.56. This represents a 0.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Conyers Investments Llc also recently made the following trade(s):
- On Friday, August 21st, Conyers Investments Llc sold 32,416 shares of Newsmax stock. The shares were sold at an average price of $11.02, for a total value of $357,224.32.
Newsmax Stock Up 1.1%
Shares of NYSE:NMAX opened at $10.83 on Tuesday. Newsmax Inc. has a 52-week low of $5.11 and a 52-week high of $15.24. The stock has a market cap of $1.40 billion, a P/E ratio of -216.60 and a beta of 2.55. The business's 50 day moving average is $8.85 and its 200 day moving average is $7.55.
Newsmax (NYSE:NMAX - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.02 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.05. The business had revenue of $54.12 million during the quarter. Newsmax had a negative return on equity of 8.28% and a negative net margin of 3.15%. On average, sell-side analysts anticipate that Newsmax Inc. will post -0.02 EPS for the current fiscal year.
Analyst Ratings Changes
Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Newsmax in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of "Sell".
Check Out Our Latest Analysis on Newsmax
Institutional Trading of Newsmax
Hedge funds have recently bought and sold shares of the stock. Greenwich Wealth Management LLC bought a new stake in Newsmax during the 4th quarter valued at $176,208,000. State Street Corp lifted its stake in shares of Newsmax by 520.9% during the 4th quarter. State Street Corp now owns 628,315 shares of the company's stock worth $4,857,000 after purchasing an additional 527,126 shares during the last quarter. Geode Capital Management LLC boosted its position in Newsmax by 329.1% during the fourth quarter. Geode Capital Management LLC now owns 574,465 shares of the company's stock valued at $4,441,000 after purchasing an additional 440,577 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Newsmax by 1,033.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 458,679 shares of the company's stock valued at $3,546,000 after purchasing an additional 418,199 shares during the last quarter. Finally, UBS Group AG raised its holdings in Newsmax by 4,495.3% in the fourth quarter. UBS Group AG now owns 421,342 shares of the company's stock worth $3,257,000 after purchasing an additional 412,173 shares in the last quarter.
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.
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