Key Points
- Conyers Investments sold 2,191 Newsmax shares at an average price of $11.05, generating $24,210.55. The sale reduced its position by 0.01%, leaving it with 21.96 million shares valued at approximately $242.7 million.
- Newsmax shares opened at $10.86, with a market capitalization of about $1.40 billion and a 52-week range of $5.11 to $13.18. The company recently reported quarterly EPS of $0.02, beating the consensus estimate of a $0.03 loss, on revenue of $54.12 million.
- Analyst sentiment remains negative: Wall Street Zen downgraded the stock to “hold,” Weiss Ratings maintained 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 2,191 shares of the firm's stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $11.05, for a total transaction of $24,210.55. Following the completion of the transaction, the insider directly owned 21,962,657 shares in the company, valued at $242,687,359.85. This trade represents a 0.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% 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 Thursday, September 24th, Conyers Investments Llc sold 441 shares of Newsmax stock. The stock was sold at an average price of $11.02, for a total transaction of $4,859.82.
- 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 shares were sold at an average price of $11.07, for a total transaction of $243,540.00.
- On Monday, September 21st, Conyers Investments Llc sold 14,251 shares of Newsmax stock. The shares were sold at an average price of $11.02, for a total transaction of $157,046.02.
- 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 stock was 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 value 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 value 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.
Newsmax Trading Down 0.3%
NYSE:NMAX opened at $10.86 on Wednesday. Newsmax Inc. has a 1-year low of $5.11 and a 1-year high of $13.18. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -217.26 and a beta of 2.72. The business's 50-day moving average price is $9.93 and its two-hundred day moving average price is $8.23.
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, topping the consensus estimate of ($0.03) by $0.05. The company 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%. Sell-side analysts predict that Newsmax Inc. will post -0.02 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages have commented on NMAX. Wall Street Zen downgraded shares of Newsmax from a "buy" rating to a "hold" rating in a research note on Saturday, September 19th. Weiss Ratings reissued a "sell (e+)" rating on shares of Newsmax in a report on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Sell".
Get Our Latest Stock Report on Newsmax
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new position in shares of Newsmax in the second quarter valued at approximately $67,000. NewEdge Advisors LLC raised its holdings in shares of Newsmax by 49.7% during the second quarter. NewEdge Advisors LLC now owns 26,074 shares of the company's stock worth $216,000 after acquiring an additional 8,659 shares during the period. Allworth Financial LP lifted its position in Newsmax by 55.4% in the 2nd quarter. Allworth Financial LP now owns 11,983 shares of the company's stock valued at $99,000 after acquiring an additional 4,270 shares in the last quarter. Arizona State Retirement System acquired a new position in Newsmax in the 2nd quarter worth $98,000. Finally, Great Lakes Advisors LLC bought a new position in Newsmax during the 2nd quarter worth about $123,000.
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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