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Newsmax (NYSE:NMAX) Shares Down 4.6% - Time to Sell?

Newsmax logo with Consumer Discretionary background

Newsmax Inc. (NYSE:NMAX - Get Free Report) dropped 4.6% during mid-day trading on Wednesday . The stock traded as low as $14.90 and last traded at $15.14. Approximately 456,908 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 2,350,336 shares. The stock had previously closed at $15.88.

Newsmax Stock Performance

The stock has a 50-day moving average of $18.46.

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

Institutional Trading of Newsmax

Hedge funds have recently modified their holdings of the stock. Golden State Wealth Management LLC acquired a new position in Newsmax in the first quarter valued at approximately $39,000. CWM LLC purchased a new position in shares of Newsmax during the 1st quarter valued at approximately $47,000. Allworth Financial LP acquired a new position in shares of Newsmax in the 1st quarter valued at $89,000. Woodard & Co. Asset Management Group Inc. ADV purchased a new stake in Newsmax during the first quarter worth $217,000. Finally, Sassicaia Capital Advisers LLC acquired a new stake in Newsmax during the first quarter valued at $309,000.

Newsmax Company Profile

(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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