Conyers Investments Llc Sells 53,500 Shares of Newsmax (NYSE:NMAX) Stock

Newsmax Inc. (NYSE:NMAX) major shareholder Conyers Investments Llc sold 53,500 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $11.03, for a total value of $590,105.00. Following the completion of the transaction, the insider directly owned 22,696,089 shares in the company, valued at $250,337,861.67. This represents a 0.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Conyers Investments Llc also recently made the following trade(s):

• On Friday, August 28th, Conyers Investments Llc sold 13,350 shares of Newsmax stock. The stock was 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 stock was sold at an average price of $11.02, for a total value of $357,224.32.

Newsmax Stock Down 1.2%

Shares of Newsmax stock opened at $10.87 on Friday. The stock’s fifty day moving average is $9.07 and its 200-day moving average is $7.66. The firm has a market capitalization of $1.40 billion, a PE ratio of -217.40 and a beta of 2.72. Newsmax Inc. has a 12-month low of $5.11 and a 12-month high of $13.91.

Newsmax (NYSE:NMAX) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Analysts expect that Newsmax Inc. will post -0.02 EPS for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings restated 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, Newsmax has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. UBS Group AG increased its stake in Newsmax by 4,495.3% in the 4th quarter. UBS Group AG now owns 421,342 shares of the company’s stock valued at $3,257,000 after buying an additional 412,173 shares during the period. Greenwich Wealth Management LLC purchased a new position in shares of Newsmax during the 4th quarter valued at $176,208,000. AXQ Capital LP increased its stake in shares of Newsmax by 78.8% in the fourth quarter. AXQ Capital LP now owns 20,682 shares of the company’s stock worth $160,000 after acquiring an additional 9,117 shares during the last quarter. Foundations Investment Advisors LLC raised its holdings in shares of Newsmax by 15.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 13,048 shares of the company’s stock worth $101,000 after acquiring an additional 1,711 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Newsmax during the fourth quarter worth $79,000.

Newsmax Company Profile

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.