Newsmax (NYSE:NMAX) Stock Price Up 8.2% - Here's Why

Newsmax (NYSE:NMAX - Get Free Report) shot up 8.2% during trading 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 Stock Up 2.9%

The firm has a 50-day simple moving average of $22.16.

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

Institutional Trading of Newsmax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NMAX. Sassicaia Capital Advisers LLC acquired a new stake in Newsmax in the 1st quarter worth $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. CWM LLC bought a new stake in shares of Newsmax during the first quarter worth $47,000. Allworth Financial LP bought a new stake in Newsmax during the 1st quarter worth about $89,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Newsmax in the first quarter valued at approximately $39,000.

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”).

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