Newsmax (NYSE:NMAX) Stock Price Down 5.6% - Here's Why

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

Newsmax Stock Down 4.0%

The firm's 50 day moving average price is $23.20.

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 firm had revenue of $45.30 million during the quarter.

Institutional Investors Weigh In On Newsmax

Large investors have recently modified their holdings of the stock. Sassicaia Capital Advisers LLC acquired a new stake in shares of Newsmax in the first quarter valued at about $309,000. CWM LLC acquired a new stake in shares of Newsmax in the first quarter valued at about $47,000. Woodard & Co. Asset Management Group Inc. ADV acquired a new stake in shares of Newsmax in the first quarter valued at about $217,000. Allworth Financial LP acquired a new stake in shares of Newsmax in the first quarter valued at about $89,000. Finally, Golden State Wealth Management LLC purchased a new position in Newsmax in the first quarter valued at about $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”).