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

Newsmax (NYSE:NMAX - Get Free Report) shares gapped down before the market opened 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 firm has a 50-day moving average price of $32.44.

Newsmax (NYSE:NMAX - Get Free Report) last issued its quarterly earnings data 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

A number of large investors have recently made changes to their positions in NMAX. Golden State Wealth Management LLC acquired a new position in Newsmax in the first quarter valued at about $39,000. CWM LLC bought a new position in shares of Newsmax during the 1st quarter valued at about $47,000. Allworth Financial LP acquired a new position in shares of Newsmax in the 1st quarter valued at approximately $89,000. Woodard & Co. Asset Management Group Inc. ADV acquired a new position in shares of Newsmax in the 1st quarter valued at 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”).