Newsmax (NYSE:NMAX) Stock Price Up 12% - Here's Why

Newsmax Inc. (NYSE:NMAX - Get Free Report) shares were up 12% on Monday . The company traded as high as $15.20 and last traded at $14.91. Approximately 1,080,404 shares traded hands during trading, a decline of 56% from the average daily volume of 2,454,218 shares. The stock had previously closed at $13.31.

Newsmax Stock Up 2.2%

The stock's 50 day moving average is $19.22.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Sassicaia Capital Advisers LLC acquired a new stake in shares of Newsmax during the 1st quarter worth about $309,000. Woodard & Co. Asset Management Group Inc. ADV acquired a new stake in Newsmax during the first quarter worth approximately $217,000. CWM LLC purchased a new stake in Newsmax in the 1st quarter worth approximately $47,000. Allworth Financial LP acquired a new position in Newsmax in the first quarter valued at $89,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Newsmax during the 1st quarter valued at about $39,000.

About Newsmax

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”).