Conyers Investments Llc Sells 32,416 Shares of Newsmax (NYSE:NMAX) Stock

Newsmax Inc. (NYSE:NMAX) major shareholder Conyers Investments Llc sold 32,416 shares of Newsmax stock in a transaction on Friday, August 21st. The shares were sold at an average price of $11.02, for a total transaction of $357,224.32. Following the transaction, the insider owned 22,762,939 shares in the company, valued at $250,847,587.78. The trade was a 0.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Newsmax Stock Performance

NMAX stock opened at $10.46 on Friday. Newsmax Inc. has a 1 year low of $5.11 and a 1 year high of $15.81. The firm has a market cap of $1.35 billion, a P/E ratio of -209.10 and a beta of 2.55. The stock has a 50-day simple moving average of $8.71 and a 200-day simple moving average of $7.49.

Newsmax (NYSE:NMAX) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05. Newsmax had a negative net margin of 3.15% and a negative return on equity of 8.28%. The firm had revenue of $54.12 million for the quarter. On average, equities research analysts predict that Newsmax Inc. will post -0.02 EPS for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Newsmax in a research note on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Newsmax

Institutional investors and hedge funds have recently bought and sold shares of the business. Greenwich Wealth Management LLC bought a new stake in Newsmax during the 4th quarter valued at $176,208,000. State Street Corp raised its holdings in Newsmax by 520.9% during the fourth quarter. State Street Corp now owns 628,315 shares of the company’s stock worth $4,857,000 after purchasing an additional 527,126 shares in the last quarter. Geode Capital Management LLC boosted its stake in 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 purchasing an additional 440,577 shares in the last quarter. Goldman Sachs Group Inc. increased its position 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 purchasing an additional 418,199 shares during the period. Finally, UBS Group AG raised its stake in shares of Newsmax by 4,495.3% in the 4th quarter. UBS Group AG now owns 421,342 shares of the company’s stock worth $3,257,000 after buying an additional 412,173 shares in the last quarter.

About Newsmax

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.