Newsmax (NYSE:NMAX) Raised to Buy at Wall Street Zen

Newsmax (NYSE:NMAX) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday, Wall Street Zen reports.

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

Newsmax Price Performance

NYSE NMAX opened at $10.67 on Friday. The company has a market capitalization of $1.38 billion, a PE ratio of -213.40 and a beta of 2.72. The company has a fifty day moving average of $9.13 and a 200 day moving average of $7.70. Newsmax has a 1 year low of $5.11 and a 1 year high of $13.60.

Newsmax (NYSE:NMAX) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.05. The company had revenue of $54.12 million for the quarter. Newsmax had a negative net margin of 3.15% and a negative return on equity of 8.28%. Research analysts expect that Newsmax will post -0.02 earnings per share for the current year.

Insiders Place Their Bets

In other Newsmax news, major shareholder Conyers Investments Llc sold 53,500 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $11.03, for a total transaction of $590,105.00. Following the transaction, the insider directly owned 22,696,089 shares of the company’s stock, valued at $250,337,861.67. This trade represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 99,266 shares of company stock worth $1,094,713 in the last ninety days. Corporate insiders own 61.03% of the company’s stock.

Institutional Trading of Newsmax

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new position in Newsmax in the 3rd quarter valued at about $26,000. Osterweis Capital Management Inc. purchased a new stake in Newsmax during the 2nd quarter worth approximately $32,000. Smartleaf Asset Management LLC purchased a new stake in Newsmax during the 4th quarter worth approximately $32,000. Russell Investments Group Ltd. raised its holdings in shares of Newsmax by 559.0% during the fourth quarter. Russell Investments Group Ltd. now owns 6,096 shares of the company’s stock valued at $47,000 after acquiring an additional 5,171 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Newsmax during the second quarter valued at approximately $63,000.

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.