Newsmax Inc. (NYSE:NMAX – Get Free Report) major shareholder Conyers Investments Llc sold 49,588 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $11.15, for a total transaction of $552,906.20. Following the sale, the insider directly owned 22,001,890 shares in the company, valued at approximately $245,321,073.50. This represents a 0.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Conyers Investments Llc also recently made the following trade(s):
- On Monday, September 14th, Conyers Investments Llc sold 282,063 shares of Newsmax stock. The shares were sold at an average price of $11.55, for a total transaction of $3,257,827.65.
- 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 transaction 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 shares were sold at an average price of $11.02, for a total transaction of $357,224.32.
Newsmax Stock Performance
NYSE:NMAX opened at $10.39 on Thursday. The stock’s fifty day moving average price is $9.48 and its two-hundred day moving average price is $7.99. Newsmax Inc. has a 52-week low of $5.11 and a 52-week high of $13.60. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -207.84 and a beta of 2.72.
Institutional Trading of Newsmax
Institutional investors and hedge funds have recently made changes to their positions in the business. Greenwich Wealth Management LLC bought a new position in shares of Newsmax in the 4th quarter worth $176,208,000. UBS Group AG increased its holdings in Newsmax by 4,495.3% in the fourth quarter. UBS Group AG now owns 421,342 shares of the company’s stock valued at $3,257,000 after purchasing an additional 412,173 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Newsmax in the second quarter valued at about $814,000. Caitong International Asset Management Co. Ltd acquired a new position in Newsmax in the fourth quarter valued at about $230,000. Finally, Kestra Advisory Services LLC lifted its stake in Newsmax by 6.9% in the first quarter. Kestra Advisory Services LLC now owns 41,747 shares of the company’s stock valued at $218,000 after buying an additional 2,697 shares during the period.
Wall Street Analysts Forecast Growth
NMAX has been the subject of several recent research reports. Wall Street Zen raised Newsmax from a “hold” rating to a “buy” rating in a report on Saturday, September 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Newsmax in a research note 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 Report 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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