Newsmax (NYSE:NMAX) Stock Price Down 4.8% - Time to Sell?

Newsmax Inc. (NYSE:NMAX - Get Free Report) shares dropped 4.8% during trading on Tuesday . The stock traded as low as $14.19 and last traded at $13.84. Approximately 86,839 shares were traded during trading, a decline of 96% from the average daily volume of 2,256,707 shares. The stock had previously closed at $14.53.

Newsmax Stock Performance

The stock has a fifty day simple moving average of $17.97.

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

Institutional Trading of Newsmax

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Golden State Wealth Management LLC acquired a new stake in Newsmax during the first quarter worth about $39,000. CWM LLC bought a new position in Newsmax in the first quarter worth $47,000. Allworth Financial LP acquired a new stake in Newsmax during the first quarter worth $89,000. West Oak Capital LLC bought a new stake in Newsmax in the 2nd quarter valued at $30,000. Finally, Woodard & Co. Asset Management Group Inc. ADV acquired a new position in shares of Newsmax in the 1st quarter valued at $217,000.

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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