Newsmax's Quiet Period Set To End on May 12th (NYSE:NMAX)

Newsmax's (NYSE:NMAX - Get Free Report) quiet period will end on Monday, May 12th. Newsmax had issued 7,500,000 shares in its public offering on March 31st. The total size of the offering was $75,000,000 based on an initial share price of $10.00. During Newsmax's quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company's quiet period, it's expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Newsmax Stock Up 4.0 %

NMAX traded up $0.95 during midday trading on Friday, hitting $24.52. 817,327 shares of the company were exchanged, compared to its average volume of 3,585,317. Newsmax has a 1-year low of $14.00 and a 1-year high of $265.00.

Institutional Investors Weigh In On Newsmax

Several hedge funds and other institutional investors have recently made changes to their positions in NMAX. Golden State Wealth Management LLC purchased a new position in shares of Newsmax during the 1st quarter worth approximately $39,000. CWM LLC acquired a new position in shares of Newsmax in the 1st quarter valued at $47,000. Allworth Financial LP purchased a new stake in shares of Newsmax in the first quarter worth approximately $89,000. Woodard & Co. Asset Management Group Inc. ADV bought a new position in shares of Newsmax in the first quarter valued at approximately $217,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Newsmax during the first quarter valued at about $551,000.

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”).