Newsmax (NYSE:NMAX) Stock Price Down 1.9% - Time to Sell?

Newsmax Inc. (NYSE:NMAX - Get Free Report)'s share price fell 1.9% on Friday . The stock traded as low as $13.20 and last traded at $12.96. 499,394 shares were traded during mid-day trading, a decline of 81% from the average session volume of 2,587,337 shares. The stock had previously closed at $13.21.

Newsmax Trading Down 2.6%

The business's 50-day moving average price is $20.88.

Newsmax (NYSE:NMAX - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported ($0.53) earnings per share for the quarter. The company had revenue of $45.30 million during the quarter.

Institutional Investors Weigh In On Newsmax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NMAX. Golden State Wealth Management LLC purchased a new position in shares of Newsmax in the first quarter valued at about $39,000. CWM LLC bought a new stake in shares of Newsmax in the first quarter worth about $47,000. Allworth Financial LP purchased a new position in Newsmax during the 1st quarter valued at about $89,000. Woodard & Co. Asset Management Group Inc. ADV bought a new position in Newsmax during the 1st quarter valued at approximately $217,000. Finally, Sassicaia Capital Advisers LLC bought a new position in Newsmax during the 1st quarter valued at approximately $309,000.

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”).