Newsmax (NYSE:NMAX - Get Free Report)'s share price dropped 1.3% during trading on Friday . The stock traded as low as $12.16 and last traded at $12.51. Approximately 745,565 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 2,663,426 shares. The stock had previously closed at $12.67.
Newsmax Price Performance
The business has a 50 day moving average price of $22.68.
Newsmax (NYSE:NMAX - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.53) EPS for the quarter. The company had revenue of $45.30 million during the quarter.
Hedge Funds Weigh In On Newsmax
Several hedge funds have recently modified their holdings of the company. Sassicaia Capital Advisers LLC purchased a new stake in shares of Newsmax during the first quarter worth $309,000. Woodard & Co. Asset Management Group Inc. ADV acquired a new stake in Newsmax during the first quarter valued at approximately $217,000. CWM LLC acquired a new position in shares of Newsmax in the 1st quarter worth approximately $47,000. Allworth Financial LP acquired a new position in shares of Newsmax in the 1st quarter worth approximately $89,000. Finally, Golden State Wealth Management LLC acquired a new position in Newsmax during the 1st quarter worth $39,000.
About Newsmax
(
Get Free Report)
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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