Key Points
- Conyers Investments sold 24,448 Newsmax shares at an average price of $11.03, generating $269,661.44. The major shareholder retained 22.62 million shares valued at approximately $249.5 million.
- Newsmax shares opened at $11.41, up 0.2%, with a market capitalization of about $1.47 billion. The stock has traded between $5.11 and $13.60 over the past year.
- Newsmax reported quarterly earnings of $0.02 per share, beating the expected loss of $0.03, on revenue of $54.12 million. Despite the earnings beat and some institutional buying, analysts’ average rating remains “Sell.”
Newsmax Inc. (NYSE:NMAX - Get Free Report) major shareholder Conyers Investments Llc sold 24,448 shares of the business's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $11.03, for a total transaction of $269,661.44. Following the completion of the transaction, the insider owned 22,622,041 shares of the company's stock, valued at $249,521,112.23. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Conyers Investments Llc also recently made the following trade(s):
- On Friday, September 11th, Conyers Investments Llc sold 288 shares of Newsmax stock. The stock was sold at an average price of $11.70, for a total value of $3,369.60.
- On Wednesday, September 2nd, Conyers Investments Llc sold 53,500 shares of Newsmax stock. The shares were sold at an average price of $11.03, for a total value of $590,105.00.
- On Friday, August 28th, Conyers Investments Llc sold 13,350 shares of Newsmax stock. The shares were sold at an average price of $11.04, for a total transaction 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 transaction of $357,224.32.
Newsmax Trading Up 0.2%
NYSE:NMAX opened at $11.41 on Tuesday. The firm has a fifty day simple moving average of $9.40 and a 200-day simple moving average of $7.93. The company has a market capitalization of $1.47 billion, a P/E ratio of -228.18 and a beta of 2.72. Newsmax Inc. has a 12 month low of $5.11 and a 12 month high of $13.60.
Newsmax (NYSE:NMAX - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.02 earnings per share for the quarter, topping 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%. Equities analysts forecast that Newsmax Inc. will post -0.02 EPS for the current year.
Hedge Funds Weigh In On Newsmax
Several large investors have recently added to or reduced their stakes in the business. Greenwich Wealth Management LLC purchased a new stake in Newsmax in the 4th quarter valued at about $176,208,000. UBS Group AG lifted its holdings in shares of Newsmax by 4,495.3% during the 4th 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. California State Teachers Retirement System lifted its holdings in shares of Newsmax by 14,773.7% during the 2nd quarter. California State Teachers Retirement System now owns 382,404 shares of the company's stock worth $3,166,000 after acquiring an additional 379,833 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Newsmax by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 110,775 shares of the company's stock worth $578,000 after acquiring an additional 5,283 shares during the last quarter. Finally, Kestra Advisory Services LLC boosted its position in shares of Newsmax by 6.9% in the first quarter. Kestra Advisory Services LLC now owns 41,747 shares of the company's stock worth $218,000 after acquiring an additional 2,697 shares during the last quarter.
Analysts Set New Price Targets
NMAX has been the subject of several research analyst reports. Weiss Ratings restated a "sell (e+)" rating on shares of Newsmax in a research report on Wednesday, July 8th. Wall Street Zen raised Newsmax from a "hold" rating to a "buy" rating in a research report on Saturday, September 5th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Newsmax currently has an average rating of "Sell".
Check Out Our Latest Analysis on Newsmax
About Newsmax
(
Get Free Report)
Newsmax, Inc is a multimedia news and information company that operates a conservative-oriented media platform serving audiences primarily in the United States. Its businesses include digital publishing, television broadcasting and related media products.
The company operates Newsmax.com, which publishes news, political commentary, business coverage, financial information and lifestyle content. It also operates Newsmax TV, a television network available through distribution partners and digital platforms, and offers streaming access and other subscription-based digital services.
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