Newsmax Inc. (NYSE:NMAX – Get Free Report) major shareholder Conyers Investments Llc sold 53,500 shares of the firm’s stock in a transaction that occurred 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 represents a 0.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major 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 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 1.7%
Newsmax stock opened at $10.67 on Friday. Newsmax Inc. has a twelve month low of $5.11 and a twelve month high of $13.60. The company has a market capitalization of $1.38 billion, a P/E ratio of -213.40 and a beta of 2.72. The stock’s 50 day moving average is $9.13 and its 200 day moving average is $7.68.
Wall Street Analyst Weigh In
Several research analysts have issued reports on NMAX shares. Wall Street Zen raised shares of Newsmax from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of Newsmax in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.
Read Our Latest Analysis on NMAX
Institutional Trading of Newsmax
A number of large investors have recently made changes to their positions in NMAX. Greenwich Wealth Management LLC bought a new position in Newsmax during the fourth quarter valued at approximately $176,208,000. State Street Corp raised its stake in Newsmax by 520.9% during the 4th quarter. State Street Corp now owns 628,315 shares of the company’s stock valued at $4,857,000 after buying an additional 527,126 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 buying an additional 440,577 shares during the period. Goldman Sachs Group Inc. lifted its holdings 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 buying an additional 418,199 shares during the period. Finally, UBS Group AG boosted 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 during the last quarter.
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.
Further Reading
- Five stocks we like better than Newsmax
- Revolution Medicines Got Its Breakthrough—What Moves It Next?
- Retail Earnings Just Exposed a Bigger Divide in the U.S. Consumer Economy
- FB Financial’s Southern Expansion and Buybacks Drive Analyst Optimism
- AST SpaceMobile Stock Soared 12%—This Was the Catalyst
Receive News & Ratings for Newsmax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newsmax and related companies with MarketBeat.com's FREE daily email newsletter.
