Wealth Enhancement Advisory Services LLC Makes New $491,000 Investment in Newsmax Inc. $NMAX

Key Points

• Wealth Enhancement Advisory Services LLC invested $491,000 to acquire 32,638 shares in Newsmax Inc. during the second quarter.
• Multiple institutional investors, including Krilogy Financial and Flagship Harbor Advisors, have recently made new investments in Newsmax, indicating growing interest in the stock.
• Analysts have varied ratings on Newsmax, with a consensus rating of "Hold" and an average price target of $21.50, though some analysts have issued contrasting ratings from "Buy" to "Sell."

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Newsmax Inc. (NYSE:NMAX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 32,638 shares of the company's stock, valued at approximately $491,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NMAX. Krilogy Financial LLC bought a new stake in shares of Newsmax in the 2nd quarter worth about $240,000. Flagship Harbor Advisors LLC bought a new stake in Newsmax in the first quarter worth about $551,000. Sassicaia Capital Advisers LLC purchased a new position in shares of Newsmax during the first quarter valued at approximately $309,000. Woodard & Co. Asset Management Group Inc. ADV purchased a new position in shares of Newsmax during the first quarter valued at approximately $217,000. Finally, Allworth Financial LP bought a new position in shares of Newsmax during the first quarter valued at approximately $89,000.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a "sell (e+)" rating on shares of Newsmax in a research note on Saturday, September 27th. Zacks Research upgraded Newsmax to a "hold" rating in a research report on Friday, August 22nd. Maxim Group started coverage on shares of Newsmax in a report on Thursday, July 24th. They issued a "buy" rating and a $20.00 price target on the stock. Wall Street Zen downgraded shares of Newsmax from a "hold" rating to a "sell" rating in a research note on Friday. Finally, Noble Financial initiated coverage on shares of Newsmax in a research report on Thursday, August 21st. They issued an "outperform" rating and a $23.00 price objective for the company. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $21.50.

Newsmax Trading Down 0.0%

Shares of Newsmax stock opened at $12.71 on Monday. The business's 50-day simple moving average is $13.10. Newsmax Inc. has a 1 year low of $11.40 and a 1 year high of $265.00.

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

About Newsmax

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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