Newsmax (NYSE:NMAX) Stock Price Down 5.6% - Should You Sell?

Newsmax (NYSE:NMAX - Get Free Report) shares dropped 5.6% on Monday . The stock traded as low as $16.05 and last traded at $15.86. Approximately 355,255 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 2,662,815 shares. The stock had previously closed at $16.79.

Newsmax Stock Performance

The company's fifty day moving average price is $26.24.

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

Institutional Trading of Newsmax

Hedge funds have recently bought and sold shares of the business. Flagship Harbor Advisors LLC bought a new stake in shares of Newsmax during the first quarter worth about $551,000. Golden State Wealth Management LLC acquired a new position in Newsmax during the 1st quarter valued at about $39,000. Allworth Financial LP bought a new stake in Newsmax during the 1st quarter worth approximately $89,000. CWM LLC purchased a new stake in shares of Newsmax in the first quarter worth approximately $47,000. Finally, Woodard & Co. Asset Management Group Inc. ADV bought a new position in shares of Newsmax in the first quarter valued at approximately $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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