Newsmax (NYSE:NMAX) Shares Down 4.8% - Should You Sell?

Newsmax Inc. (NYSE:NMAX - Get Free Report)'s share price fell 4.8% on Monday . The stock traded as low as $12.61 and last traded at $12.60. 294,549 shares were traded during trading, a decline of 88% from the average session volume of 2,558,015 shares. The stock had previously closed at $13.24.

Newsmax Stock Performance

The business has a fifty day moving average price of $19.79.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NMAX. Golden State Wealth Management LLC purchased a new stake in shares of Newsmax during the 1st quarter valued at $39,000. CWM LLC purchased a new position in shares of Newsmax in the 1st quarter worth about $47,000. Allworth Financial LP bought a new position in Newsmax during the first quarter valued at about $89,000. Woodard & Co. Asset Management Group Inc. ADV bought a new position in Newsmax during the first quarter valued at about $217,000. Finally, Sassicaia Capital Advisers LLC purchased a new stake in Newsmax during the first quarter worth about $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”).