Key Points
- Conyers Investments sold 282,063 Newsmax shares at an average price of $11.55, generating approximately $3.26 million. The sale reduced its stake by 1.26%, leaving it with 22.05 million shares worth about $254.7 million.
- Newsmax shares were trading at $10.39, down 3.5%, with a market capitalization of approximately $1.34 billion. The stock has ranged from $5.11 to $13.60 over the past year.
- Newsmax beat quarterly earnings expectations with EPS of $0.02 versus the projected loss of $0.03, but analysts’ overall view remains negative, with the stock carrying an average “Sell” rating.
Newsmax Inc. (NYSE:NMAX - Get Free Report) major shareholder Conyers Investments Llc sold 49,588 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $11.15, for a total transaction of $552,906.20. Following the transaction, the insider owned 22,001,890 shares of the company's stock, valued at approximately $245,321,073.50. This represents a 0.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Conyers Investments Llc also recently made the following trade(s):
- On Monday, September 14th, Conyers Investments Llc sold 282,063 shares of Newsmax stock. The shares were sold at an average price of $11.55, for a total transaction of $3,257,827.65.
- 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 transaction of $3,369.60.
- On Thursday, September 10th, Conyers Investments Llc sold 24,448 shares of Newsmax stock. The stock was sold at an average price of $11.03, for a total transaction of $269,661.44.
- On Wednesday, September 2nd, Conyers Investments Llc sold 53,500 shares of Newsmax stock. The stock was sold at an average price of $11.03, for a total transaction 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 shares were sold at an average price of $11.02, for a total transaction of $357,224.32.
Newsmax Trading Down 3.5%
Shares of Newsmax stock opened at $10.39 on Thursday. The company has a market capitalization of $1.34 billion, a PE ratio of -207.84 and a beta of 2.72. Newsmax Inc. has a 12 month low of $5.11 and a 12 month high of $13.60. The stock's fifty day simple moving average is $9.48 and its 200 day simple moving average is $7.99.
Newsmax (NYSE:NMAX - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.05. Newsmax had a negative return on equity of 8.28% and a negative net margin of 3.15%.The firm had revenue of $54.12 million during the quarter. Analysts predict that Newsmax Inc. will post -0.02 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Weiss Ratings reiterated a "sell (e+)" rating on shares of Newsmax in a research report on Wednesday, July 8th. Wall Street Zen upgraded shares of Newsmax from a "hold" rating to a "buy" rating in a report on Saturday, September 5th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Newsmax has a consensus rating of "Sell".
View Our Latest Stock Report on Newsmax
Hedge Funds Weigh In On Newsmax
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NMAX. Integrated Wealth Concepts LLC bought a new position in Newsmax during the 2nd quarter worth about $67,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Newsmax in the 4th quarter valued at about $70,000. Arizona State Retirement System bought a new stake in shares of Newsmax in the second quarter valued at about $98,000. Allworth Financial LP lifted its holdings in shares of Newsmax by 55.4% in the second quarter. Allworth Financial LP now owns 11,983 shares of the company's stock valued at $99,000 after purchasing an additional 4,270 shares in the last quarter. Finally, Apollon Wealth Management LLC acquired a new position in shares of Newsmax during the first quarter worth about $65,000.
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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