Newsmax (NYSE:NMAX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Newsmax from “hold” to “buy,” but Weiss Ratings maintained a “sell (e+)” rating, leaving the overall analyst consensus at “Sell.”
• Newsmax reported quarterly EPS of $0.02, beating expectations of a $0.03 loss, on revenue of $54.12 million; however, it still posted a negative net margin and return on equity.
• The stock opened at $9.46, with a 12-month range of $5.11 to $13.18 and a market capitalization of approximately $1.22 billion. Insiders have sold nearly 495,000 shares over the past quarter, while insiders collectively own 61.03% of the company.

Newsmax (NYSE:NMAX - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

Separately, 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, According to data from MarketBeat.com, Newsmax currently has a consensus rating of "Sell".

Newsmax Price Performance

Newsmax stock opened at $9.46 on Friday. Newsmax has a 12 month low of $5.11 and a 12 month high of $13.18. The stock has a market capitalization of $1.22 billion, a PE ratio of -189.10 and a beta of 2.56. The business has a 50 day simple moving average of $10.06 and a 200-day simple moving average of $8.29.

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

Insider Buying and Selling

In other Newsmax news, major shareholder Conyers Investments Llc sold 282,063 shares of the business's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $11.55, for a total value of $3,257,827.65. Following the transaction, the insider directly owned 22,051,478 shares in the company, valued at $254,694,570.90. The trade was a 1.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 494,886 shares of company stock worth $5,611,995 over the last quarter. 61.03% of the stock is owned by insiders.

Institutional Trading of Newsmax

A number of hedge funds and other institutional investors have recently made changes to their positions in NMAX. Bank of New York Mellon Corp lifted its holdings in Newsmax by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 110,775 shares of the company's stock valued at $578,000 after acquiring an additional 5,283 shares during the last quarter. Kestra Advisory Services LLC increased its stake in Newsmax by 6.9% during the first quarter. Kestra Advisory Services LLC now owns 41,747 shares of the company's stock worth $218,000 after acquiring an additional 2,697 shares during the last quarter. Cetera Investment Advisers raised its position in Newsmax by 5.1% in the first quarter. Cetera Investment Advisers now owns 35,302 shares of the company's stock valued at $184,000 after purchasing an additional 1,725 shares during the period. Entropy Technologies LP raised its position in Newsmax by 54.7% in the first quarter. Entropy Technologies LP now owns 35,280 shares of the company's stock valued at $184,000 after purchasing an additional 12,480 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Newsmax in the 4th quarter valued at $230,000.

Newsmax Company Profile

Newsmax, Inc is a media and communications company that operates Newsmax, a conservative news and information brand. Its businesses provide news, political commentary, analysis and lifestyle content through television, digital media and publishing platforms.

The company's principal properties include Newsmax TV, a news and opinion television network distributed through pay-TV providers and streaming services, and Newsmax.com, its online news and information platform. Newsmax also offers content through mobile and connected-device applications, email newsletters, podcasts and social media channels, along with magazine and publishing products.

Newsmax was founded in 1998 by Christopher Ruddy, who serves as the company's chief executive officer and chairman.

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