Newsmax (NYSE:NMAX) Shares Gap Up - Time to Buy?

Newsmax Inc. (NYSE:NMAX - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $13.75, but opened at $14.26. Newsmax shares last traded at $13.76, with a volume of 202,634 shares.

Newsmax Trading Up 4.9%

The firm's fifty day simple moving average is $18.76.

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

Hedge Funds Weigh In On Newsmax

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

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”).