Newsmax Inc. (NYSE:NMAX – Get Free Report) major shareholder Conyers Investments Llc sold 282,063 shares of the business’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $11.55, for a total value of $3,257,827.65. Following the completion of the sale, the insider directly owned 22,051,478 shares in the company, valued at $254,694,570.90. This represents a 1.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 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 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 value of $552,906.20.
- 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 transaction of $269,661.44.
- On Wednesday, September 2nd, Conyers Investments Llc sold 53,500 shares of Newsmax stock. The shares were sold at an average price of $11.03, for a total transaction 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 transaction 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 transaction of $357,224.32.
Newsmax Price Performance
NYSE NMAX opened at $10.30 on Friday. The company’s 50 day simple moving average is $9.56 and its 200 day simple moving average is $8.04. Newsmax Inc. has a 12 month low of $5.11 and a 12 month high of $13.60. The company has a market capitalization of $1.33 billion, a P/E ratio of -206.00 and a beta of 2.72.
Institutional Investors Weigh In On Newsmax
Several hedge funds have recently made changes to their positions in NMAX. NewEdge Advisors LLC grew its position in Newsmax by 7.9% during the 1st quarter. NewEdge Advisors LLC now owns 17,415 shares of the company’s stock worth $91,000 after purchasing an additional 1,282 shares in the last quarter. Foundations Investment Advisors LLC lifted its holdings in shares of Newsmax by 15.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 13,048 shares of the company’s stock valued at $101,000 after purchasing an additional 1,711 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Newsmax by 5.1% in the first quarter. Cetera Investment Advisers now owns 35,302 shares of the company’s stock worth $184,000 after buying an additional 1,725 shares during the period. Kestra Advisory Services LLC boosted its position in shares of Newsmax by 6.9% in the first quarter. Kestra Advisory Services LLC now owns 41,747 shares of the company’s stock worth $218,000 after buying an additional 2,697 shares during the period. Finally, Allworth Financial LP grew its holdings in shares of Newsmax by 55.4% during the second quarter. Allworth Financial LP now owns 11,983 shares of the company’s stock valued at $99,000 after buying an additional 4,270 shares in the last quarter.
Wall Street Analyst Weigh In
NMAX has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Newsmax in a report on Wednesday, July 8th. Wall Street Zen lowered Newsmax from a “buy” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.
View Our Latest Analysis on NMAX
About Newsmax
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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