Wall Street Zen Downgrades Newsmax (NYSE:NMAX) to Hold

by · The Cerbat Gem

Newsmax (NYSE:NMAX – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Newsmax in a research report on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

View Our Latest Report on NMAX

Newsmax Stock Down 0.2%

Shares of NMAX opened at $10.30 on Friday. Newsmax has a twelve month low of $5.11 and a twelve month high of $13.60. The stock has a market capitalization of $1.33 billion, a P/E ratio of -206.00 and a beta of 2.72. The company has a 50 day moving average of $9.56 and a 200-day moving average of $8.05.

Newsmax (NYSE:NMAX – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05. Newsmax had a negative net margin of 3.15% and a negative return on equity of 8.28%. The business had revenue of $54.12 million for the quarter. On average, sell-side analysts anticipate that Newsmax will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Newsmax

In related news, major shareholder Conyers Investments Llc sold 49,588 shares of Newsmax 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 completion of the transaction, the insider owned 22,001,890 shares in the company, valued at approximately $245,321,073.50. This trade represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 455,653 shares of company stock valued at $5,178,478. Company insiders own 61.03% of the company’s stock.

Institutional Trading of Newsmax

A number of hedge funds have recently made changes to their positions in NMAX. Greenwich Wealth Management LLC acquired a new stake in Newsmax during the 4th quarter valued at $176,208,000. UBS Group AG increased its holdings in shares of 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 acquired a new position in shares of Newsmax in the second quarter valued at $814,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Newsmax in the fourth quarter valued at about $230,000. Finally, Aristides Capital LLC bought a new position in shares of Newsmax in the fourth quarter valued at about $162,000.

Newsmax Company Profile

(Get Free Report)

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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