Newsmax (NYSE:NMAX) Stock Price Down 4.8% - Here's Why

Newsmax Inc. (NYSE:NMAX - Get Free Report)'s stock price traded down 4.8% during trading 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 Trading Down 4.6%

The company's 50 day moving average is $20.88.

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 business had revenue of $45.30 million during the quarter.

Institutional Trading of Newsmax

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

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