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

Newsmax logo with Consumer Discretionary background

Shares of Newsmax Inc. (NYSE:NMAX - Get Free Report) were down 4.8% during trading on Tuesday . The company 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 firm's 50 day moving average is $17.02.

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

Institutional Trading of Newsmax

Several institutional investors and hedge funds have recently made changes to their positions in the stock. 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 Newsmax in the 1st quarter worth $47,000. Allworth Financial LP purchased a new position in Newsmax in the 1st quarter worth $89,000. West Oak Capital LLC purchased a new position in Newsmax in the 2nd quarter worth $30,000. Finally, SOA Wealth Advisors LLC. purchased a new position in Newsmax in the 2nd quarter worth $32,000.

Newsmax Company Profile

(Get Free Report)

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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