Newsmax (NYSE:NMAX) Stock Price Down 4.6% - Here's What Happened

Newsmax Inc. (NYSE:NMAX - Get Free Report) shares dropped 4.6% on Wednesday . The company traded as low as $14.90 and last traded at $15.14. Approximately 456,908 shares traded hands 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 Trading Down 3.9%

The business's 50 day moving average price is $18.14.

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

Institutional Trading of Newsmax

Institutional investors have recently modified their holdings of the business. Golden State Wealth Management LLC purchased a new stake in shares of Newsmax during the 1st quarter valued at approximately $39,000. CWM LLC bought a new stake in Newsmax during the 1st quarter worth approximately $47,000. Allworth Financial LP bought a new stake in Newsmax during the 1st quarter worth approximately $89,000. Woodard & Co. Asset Management Group Inc. ADV bought a new stake in Newsmax during the 1st quarter worth approximately $217,000. Finally, Sassicaia Capital Advisers LLC bought a new stake in Newsmax during the 1st quarter worth 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”).