Newsmax (NYSE:NMAX) Trading Down 8.8% - Here's What Happened

Shares of Newsmax Inc. (NYSE:NMAX - Get Free Report) fell 8.8% on Tuesday . The company traded as low as $13.79 and last traded at $13.80. 843,100 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 2,451,212 shares. The stock had previously closed at $15.13.

Newsmax Price Performance

The business has a fifty day moving average of $19.41.

Newsmax (NYSE:NMAX - Get Free Report) last posted 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 for the quarter.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Golden State Wealth Management LLC bought a new stake in shares of Newsmax in the first quarter valued at about $39,000. CWM LLC bought a new stake in shares of Newsmax in the 1st quarter worth approximately $47,000. Allworth Financial LP acquired a new stake in shares of Newsmax during the 1st quarter worth approximately $89,000. Woodard & Co. Asset Management Group Inc. ADV bought a new stake in shares of Newsmax during the first quarter valued at approximately $217,000. Finally, Sassicaia Capital Advisers LLC bought a new stake in shares of Newsmax during the first quarter valued at approximately $309,000.

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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