Newsmax (NYSE:NMAX) Stock Price Down 1.3% - Time to Sell?

Shares of Newsmax Inc. (NYSE:NMAX - Get Free Report) dropped 1.3% during mid-day trading on Monday . The company traded as low as $11.82 and last traded at $12.26. Approximately 680,390 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 2,643,421 shares. The stock had previously closed at $12.42.

Newsmax Price Performance

The business has a 50 day simple moving average of $21.07.

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

Hedge Funds Weigh In On Newsmax

Several institutional investors and hedge funds have recently modified their holdings of the stock. Golden State Wealth Management LLC purchased a new position in Newsmax during the first quarter valued at approximately $39,000. CWM LLC acquired a new stake in shares of Newsmax during the 1st quarter worth approximately $47,000. Allworth Financial LP purchased a new position in shares of Newsmax during 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 $217,000. Finally, Sassicaia Capital Advisers LLC purchased a new stake in Newsmax during the first quarter worth $309,000.

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”).