Newsmax (NYSE:NMAX) Major Shareholder Conyers Investments Llc Sells 13,350 Shares

Newsmax Inc. (NYSE:NMAX) major shareholder Conyers Investments Llc sold 13,350 shares of Newsmax stock in a transaction on Friday, August 28th. The stock was sold at an average price of $11.04, for a total transaction of $147,384.00. Following the completion of the transaction, the insider directly owned 22,749,589 shares of the company’s stock, valued at $251,155,462.56. The trade was a 0.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Conyers Investments Llc also recently made the following trade(s):

• On Friday, August 21st, Conyers Investments Llc sold 32,416 shares of Newsmax stock. The stock was sold at an average price of $11.02, for a total transaction of $357,224.32.

Newsmax Trading Up 1.1%

Shares of NYSE NMAX opened at $10.83 on Tuesday. Newsmax Inc. has a 12-month low of $5.11 and a 12-month high of $15.24. The firm’s 50-day moving average price is $8.85 and its 200-day moving average price is $7.55. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -216.60 and a beta of 2.55.

Newsmax (NYSE:NMAX) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.05. Newsmax had a negative return on equity of 8.28% and a negative net margin of 3.15%.The company had revenue of $54.12 million during the quarter. On average, equities analysts predict that Newsmax Inc. will post -0.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Newsmax in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Newsmax has a consensus rating of “Sell”.

Hedge Funds Weigh In On Newsmax

Hedge funds have recently bought and sold shares of the business. Greenwich Wealth Management LLC bought a new stake in shares of Newsmax during the fourth quarter worth $176,208,000. State Street Corp boosted its stake in shares of Newsmax by 520.9% during the fourth quarter. State Street Corp now owns 628,315 shares of the company’s stock valued at $4,857,000 after purchasing an additional 527,126 shares during the period. Geode Capital Management LLC grew its holdings in shares of Newsmax by 329.1% in the fourth quarter. Geode Capital Management LLC now owns 574,465 shares of the company’s stock worth $4,441,000 after purchasing an additional 440,577 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Newsmax by 1,033.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 458,679 shares of the company’s stock worth $3,546,000 after purchasing an additional 418,199 shares during the last quarter. Finally, UBS Group AG increased its stake in Newsmax by 4,495.3% in the 4th quarter. UBS Group AG now owns 421,342 shares of the company’s stock worth $3,257,000 after buying an additional 412,173 shares during the period.

Newsmax Company Profile

Newsmax (NYSE:NMAX) is a diversified media company that produces and distributes conservative-oriented news, opinion and informational content. The company operates across multiple platforms, including a cable news channel, a digital streaming service, a website, a print magazine and various mobile applications. Newsmax focuses on delivering political coverage, financial analysis and cultural commentary to its audience.

Originally launched as a news website in 1998, Newsmax expanded into print with the debut of Newsmax magazine in 2003 and later launched its flagship cable network, Newsmax TV, in 2014.