Newsmax (NYSE:NMAX) Stock Price Down 4.3% - Here's What Happened

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

Newsmax Stock Up 3.8%

The business has a fifty day simple moving average of $30.53.

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

Institutional Trading of Newsmax

Several institutional investors have recently bought and sold shares of the company. Flagship Harbor Advisors LLC bought a new position in shares of Newsmax in the first quarter worth approximately $551,000. Sassicaia Capital Advisers LLC purchased a new position in Newsmax in the 1st quarter worth approximately $309,000. Woodard & Co. Asset Management Group Inc. ADV bought a new position in Newsmax in the 1st quarter valued at approximately $217,000. Allworth Financial LP purchased a new stake in Newsmax during the 1st quarter valued at $89,000. Finally, CWM LLC purchased a new stake in Newsmax during the 1st quarter valued at $47,000.

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”).