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Newsmax (NYSE:NMAX) Shares Gap Down - Should You Sell?

Newsmax logo with Communication Services background

Shares of Newsmax (NYSE:NMAX - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $22.32, but opened at $19.49. Newsmax shares last traded at $17.60, with a volume of 745,067 shares traded.

Newsmax Price Performance

The company has a 50-day moving average price of $32.71.

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

Institutional Investors Weigh In On Newsmax

Institutional investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC purchased a new stake in Newsmax during the 1st quarter valued at $551,000. Sassicaia Capital Advisers LLC bought a new position in Newsmax during the first quarter valued at $309,000. Woodard & Co. Asset Management Group Inc. ADV purchased a new stake in shares of Newsmax in the first quarter valued at $217,000. Allworth Financial LP bought a new stake in shares of Newsmax in the 1st quarter worth about $89,000. Finally, CWM LLC purchased a new position in shares of Newsmax during the 1st quarter worth about $47,000.

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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