Newsmax (NYSE:NMAX) Shares Down 3.1% - Here's Why

Newsmax Inc. (NYSE:NMAX - Get Free Report) was down 3.1% during trading on Monday . The stock traded as low as $14.31 and last traded at $14.57. Approximately 287,176 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 2,388,362 shares. The stock had previously closed at $15.04.

Newsmax Trading Up 9.1%

The firm's fifty day moving average price is $18.46.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in Newsmax during the 1st quarter valued at about $39,000. CWM LLC acquired a new position in Newsmax during the 1st quarter valued at about $47,000. Allworth Financial LP acquired a new position in Newsmax during the 1st quarter valued at about $89,000. Woodard & Co. Asset Management Group Inc. ADV acquired a new position in Newsmax during the 1st quarter valued at about $217,000. Finally, Sassicaia Capital Advisers LLC acquired a new position in Newsmax during the 1st quarter valued at about $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”).