Newsmax (NYSE:NMAX) Trading Down 4.3% - What's Next?

Newsmax (NYSE:NMAX - Get Free Report) traded down 4.3% during trading on Tuesday . The stock traded as low as $18.66 and last traded at $18.91. 399,727 shares changed hands during trading, a decline of 85% from the average session volume of 2,632,974 shares. The stock had previously closed at $19.75.

Newsmax Price Performance

The business's fifty day simple moving average is $31.87.

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

Institutional Trading of Newsmax

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

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”).