Key Points
- Conyers Investments sold 53,500 Newsmax shares at an average price of $11.03, generating approximately $590,105. After the transaction, it still owned 22.7 million shares, a 0.24% reduction in its position.
- Newsmax shares opened at $10.98, well above their 50-day and 200-day moving averages, with a market capitalization of about $1.42 billion. The company recently reported quarterly EPS of $0.02, beating estimates, on revenue of $54.12 million.
- Despite increased institutional ownership, analyst sentiment remains negative: Weiss Ratings reiterated a “sell” rating, and MarketBeat data shows a consensus rating of “Sell.”
Newsmax Inc. (NYSE:NMAX - Get Free Report) major shareholder Conyers Investments Llc sold 53,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $11.03, for a total value of $590,105.00. Following the transaction, the insider directly owned 22,696,089 shares of the company's stock, valued at approximately $250,337,861.67. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Conyers Investments Llc also recently made the following trade(s):
- On Friday, August 28th, Conyers Investments Llc sold 13,350 shares of Newsmax stock. The stock was sold at an average price of $11.04, for a total value of $147,384.00.
- On Friday, August 21st, Conyers Investments Llc sold 32,416 shares of Newsmax stock. The stock was sold at an average price of $11.02, for a total value of $357,224.32.
Newsmax Price Performance
Shares of NYSE:NMAX opened at $10.98 on Thursday. The business has a fifty day moving average price of $8.99 and a 200-day moving average price of $7.62. The company has a market capitalization of $1.42 billion, a PE ratio of -219.60 and a beta of 2.72. Newsmax Inc. has a 1-year low of $5.11 and a 1-year high of $14.28.
Newsmax (NYSE:NMAX - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.05. The company had revenue of $54.12 million for 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 -0.02 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Newsmax
Several institutional investors have recently modified their holdings of NMAX. Greenwich Wealth Management LLC bought a new stake in Newsmax in the 4th quarter worth about $176,208,000. State Street Corp lifted its stake in Newsmax by 520.9% during the 4th quarter. State Street Corp now owns 628,315 shares of the company's stock valued at $4,857,000 after acquiring an additional 527,126 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Newsmax by 329.1% during the 4th quarter. Geode Capital Management LLC now owns 574,465 shares of the company's stock valued at $4,441,000 after acquiring an additional 440,577 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Newsmax by 1,033.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 458,679 shares of the company's stock valued at $3,546,000 after acquiring an additional 418,199 shares during the last quarter. Finally, UBS Group AG grew its stake in shares of 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 acquiring an additional 412,173 shares during the period.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Newsmax in a report on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of "Sell".
Get Our Latest Research Report 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.
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