Newsmax Inc. (NYSE:NMAX – Get Free Report) major shareholder Conyers Investments Llc sold 13,350 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $11.04, for a total value of $147,384.00. Following the completion of the sale, the insider directly owned 22,749,589 shares of the company’s stock, valued at $251,155,462.56. The trade was a 0.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% 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 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 Up 1.1%
NYSE:NMAX traded up $0.12 on Monday, hitting $10.83. The stock had a trading volume of 913,644 shares, compared to its average volume of 1,328,705. Newsmax Inc. has a 52 week low of $5.11 and a 52 week high of $15.24. The business’s fifty day moving average is $8.77 and its 200 day moving average is $7.52. The company has a market cap of $1.40 billion, a PE ratio of -216.60 and a beta of 2.55.
Wall Street Analysts Forecast Growth
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 currently has an average rating of “Sell”.
Read Our Latest Research Report on Newsmax
Institutional Trading of Newsmax
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NMAX. Advisory Services Network LLC bought a new position in shares of Newsmax in the third quarter valued at approximately $26,000. Osterweis Capital Management Inc. purchased a new stake in Newsmax in the 2nd quarter valued at $32,000. Smartleaf Asset Management LLC purchased a new stake in Newsmax in the 4th quarter valued at $32,000. Russell Investments Group Ltd. lifted its stake in Newsmax by 559.0% during the 4th 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Newsmax during the 2nd quarter worth $63,000.
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.
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