Arkansas Financial Group Inc. Purchases Shares of 20,610 Newsmax Inc. $NMAX

Key Points

• Arkansas Financial Group Inc. has acquired 20,610 shares of Newsmax Inc. (NMAX), valued at approximately $327,000, during the second quarter.
• Newsmax's stock is currently trading at $12.64, with a 12-month high of $265.00 and a consensus price target of $21.50.
• Several analysts have recently upgraded Newsmax's stock rating to "hold", with Maxim Group issuing a "buy" rating and a target price of $20.00.

Arkansas Financial Group Inc. purchased a new stake in shares of Newsmax Inc. (NYSE:NMAX - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 20,610 shares of the company's stock, valued at approximately $327,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. North Star Investment Management Corp. bought a new position in Newsmax during the 2nd quarter valued at approximately $51,000. West Oak Capital LLC bought a new position in Newsmax during the 2nd quarter valued at approximately $30,000. Armstrong Advisory Group Inc. bought a new position in Newsmax during the 2nd quarter valued at approximately $120,000. Busey Bank bought a new position in shares of Newsmax in the 2nd quarter worth approximately $206,000. Finally, UMB Bank n.a. bought a new position in shares of Newsmax in the 2nd quarter worth approximately $62,000.

Newsmax Trading Down 2.0%

Shares of NMAX stock opened at $12.64 on Friday. Newsmax Inc. has a 12-month low of $11.40 and a 12-month high of $265.00. The stock has a 50-day moving average price of $13.30.

Newsmax (NYSE:NMAX - Get Free Report) last issued its earnings results on Tuesday, August 19th. The company reported ($0.59) earnings per share (EPS) for the quarter. The firm had revenue of $46.44 million during the quarter. Newsmax has set its FY 2025 guidance at EPS.

Analyst Upgrades and Downgrades

NMAX has been the subject of several research reports. Zacks Research raised Newsmax to a "hold" rating in a research report on Friday, August 22nd. Wall Street Zen upgraded Newsmax from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Maxim Group began coverage on Newsmax in a research note on Thursday, July 24th. They issued a "buy" rating and a $20.00 price target on the stock. Finally, Noble Financial initiated coverage on Newsmax in a research note on Thursday, August 21st. They issued an "outperform" rating and a $23.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Newsmax has a consensus rating of "Moderate Buy" and a consensus price target of $21.50.

Newsmax Company Profile

Newsmax Inc is a holding company that owns 100% of the equity interests of its operating company Newsmax Media, Inc (“Newsmax Media”). Newsmax Media and its subsidiaries operate the businesses described in this Offering Circular. Newsmax Media has six wholly-owned subsidiaries: Newsmax Broadcasting, LLC, a Florida limited liability company (“Newsmax Broadcasting”), Crown Atlantic Insurance, LLC, a Florida limited liability company (“Crown Atlantic”), Humanix Publishing, LLC, a Florida limited liability company (“Humanix Publishing”), Medix Health LLC, a Florida limited liability company (“Medix Health”), ROI Media Strategies, LLC, a Florida limited liability company (“ROI Media Strategies”), and Newsmax Radio LLC, a Florida limited liability company (“Newsmax Radio,” and together with Newsmax Media, Newsmax Broadcasting, Crown Atlantic Insurance, Humanix Publishing, Medix Health, and ROI Media Strategies, the “Subsidiaries”).

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