Key Points
- Conyers Investments sold 14,251 Newsmax shares at an average price of $11.02, generating $157,046.02. The sale reduced its position by 0.06%, leaving it with approximately 21.99 million shares worth $242.3 million.
- The shareholder has made several additional sales recently, including 350 shares on September 23 and 22,000 shares on September 22, as well as larger sales earlier in September.
- Newsmax shares opened at $10.85, with a market capitalization of about $1.4 billion. Despite beating quarterly EPS estimates, the stock carries a consensus “Sell” rating, while analysts expect a full-year loss.
Newsmax Inc. (NYSE:NMAX - Get Free Report) major shareholder Conyers Investments Llc sold 14,251 shares of Newsmax stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $11.02, for a total value of $157,046.02. Following the transaction, the insider directly owned 21,987,639 shares in the company, valued at approximately $242,303,781.78. This trade represents a 0.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 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 Wednesday, September 23rd, Conyers Investments Llc sold 350 shares of Newsmax stock. The stock was sold at an average price of $11.03, for a total transaction of $3,860.50.
- On Tuesday, September 22nd, Conyers Investments Llc sold 22,000 shares of Newsmax stock. The stock was sold at an average price of $11.07, for a total transaction of $243,540.00.
- On Tuesday, September 15th, Conyers Investments Llc sold 49,588 shares of Newsmax stock. The shares were sold at an average price of $11.15, for a total transaction of $552,906.20.
- 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 shares were 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 shares were 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 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 value 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 value of $357,224.32.
Newsmax Price Performance
Shares of NMAX stock opened at $10.85 on Thursday. Newsmax Inc. has a fifty-two week low of $5.11 and a fifty-two week high of $13.25. The stock's 50-day moving average is $9.72 and its two-hundred day moving average is $8.13. The firm has a market cap of $1.40 billion, a P/E ratio of -216.98 and a beta of 2.72.
Newsmax (NYSE:NMAX - Get Free Report) last announced its quarterly earnings results 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 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%. As a group, research analysts expect that Newsmax Inc. will post -0.02 EPS for the current year.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Newsmax in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of Newsmax from a "buy" rating to a "hold" rating in a research report on Saturday, September 19th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of "Sell".
Get Our Latest Research Report on Newsmax
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of NMAX. Greenwich Wealth Management LLC acquired a new position in Newsmax during the 4th quarter worth $176,208,000. Bank of New York Mellon Corp bought a new position in shares of Newsmax in the second quarter worth about $814,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Newsmax in the fourth quarter worth about $230,000. Aristides Capital LLC acquired a new position in shares of Newsmax during the 4th quarter worth about $162,000. Finally, Abel Hall LLC bought a new stake in Newsmax during the 1st quarter valued at approximately $100,000.
Newsmax Company Profile
(
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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