Newsmax (NYSE:NMAX) Shares Up 8.2% - Here's What Happened

Newsmax Inc. (NYSE:NMAX - Get Free Report) traded up 8.2% on Tuesday . The company traded as high as $13.73 and last traded at $13.71. 1,065,527 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 2,633,723 shares. The stock had previously closed at $12.67.

Newsmax Trading Up 0.5%

The business's 50 day moving average price is $20.88.

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 for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NMAX. Flagship Harbor Advisors LLC acquired a new position in shares of Newsmax in the 1st quarter worth approximately $551,000. Sassicaia Capital Advisers LLC acquired a new position in shares of Newsmax in the 1st quarter worth approximately $309,000. Woodard & Co. Asset Management Group Inc. ADV acquired a new position in shares of Newsmax in the 1st quarter worth approximately $217,000. Allworth Financial LP acquired a new position in shares of Newsmax in the 1st quarter worth approximately $89,000. Finally, CWM LLC acquired a new position in shares of Newsmax in the 1st quarter worth approximately $47,000.

About Newsmax

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”).