Newsmax (NYSE:NMAX) Stock: Insider Conyers Investments Llc Sells 22,000 Shares

Newsmax Inc. (NYSE:NMAX) major shareholder Conyers Investments Llc sold 22,000 shares of the stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $11.07, for a total value of $243,540.00. Following the completion of the sale, the insider directly owned 21,965,639 shares in the company, valued at approximately $243,159,623.73. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, September 23rd, Conyers Investments Llc sold 350 shares of Newsmax stock. The stock was sold at an average price of $11.03, for a total value of $3,860.50.
• On Monday, September 21st, Conyers Investments Llc sold 14,251 shares of Newsmax stock. The stock was sold at an average price of $11.02, for a total transaction of $157,046.02.
• On Tuesday, September 15th, Conyers Investments Llc sold 49,588 shares of Newsmax stock. The shares were sold at an average price of $11.15, for a total transaction of $552,906.20.
• On Monday, September 14th, Conyers Investments Llc sold 282,063 shares of Newsmax stock. The shares were sold at an average price of $11.55, for a total transaction of $3,257,827.65.
• On Friday, September 11th, Conyers Investments Llc sold 288 shares of Newsmax stock. The shares were sold at an average price of $11.70, for a total transaction of $3,369.60.
• On Thursday, September 10th, Conyers Investments Llc sold 24,448 shares of Newsmax stock. The stock was sold at an average price of $11.03, for a total transaction of $269,661.44.
• On Wednesday, September 2nd, Conyers Investments Llc sold 53,500 shares of Newsmax stock. The stock was sold at an average price of $11.03, for a total transaction of $590,105.00.
• On Friday, August 28th, Conyers Investments Llc sold 13,350 shares of Newsmax stock. The shares were sold at an average price of $11.04, for a total transaction of $147,384.00.
• On Friday, August 21st, Conyers Investments Llc sold 32,416 shares of Newsmax stock. The shares were sold at an average price of $11.02, for a total transaction of $357,224.32.

Newsmax Stock Up 0.6%

Shares of NYSE NMAX opened at $10.96 on Friday. Newsmax Inc. has a twelve month low of $5.11 and a twelve month high of $13.18. The firm has a market cap of $1.42 billion, a P/E ratio of -219.28 and a beta of 2.72. The company has a 50 day moving average of $9.77 and a 200 day moving average of $8.15.

Newsmax (NYSE:NMAX) last issued its earnings results on Thursday, August 13th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.05. The business had revenue of $54.12 million for the quarter. Newsmax had a negative return on equity of 8.28% and a negative net margin of 3.15%. As a group, equities analysts expect that Newsmax Inc. will post -0.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on NMAX. Weiss Ratings reiterated a “sell (e+)” rating on shares of Newsmax in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of Newsmax from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Newsmax has a consensus rating of “Sell”.

Hedge Funds Weigh In On Newsmax

Several hedge funds and other institutional investors have recently modified their holdings of the company. Greenwich Wealth Management LLC purchased a new position in shares of Newsmax in the 4th quarter worth $176,208,000. Bank of New York Mellon Corp purchased a new stake in Newsmax during the second quarter valued at $814,000. Caitong International Asset Management Co. Ltd bought a new position in Newsmax in the fourth quarter valued at about $230,000. Kestra Advisory Services LLC boosted its position in Newsmax by 6.9% in the first quarter. Kestra Advisory Services LLC now owns 41,747 shares of the company’s stock worth $218,000 after purchasing an additional 2,697 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of Newsmax by 49.7% during the 2nd quarter. NewEdge Advisors LLC now owns 26,074 shares of the company’s stock valued at $216,000 after purchasing an additional 8,659 shares during the period.

Key Stories Impacting Newsmax

Here are the key news stories impacting Newsmax this week:

• Positive Sentiment: Newsmax is pressuring the DOJ to challenge Fox’s proposed Roku acquisition, arguing that the deal could increase Fox’s influence over streaming distribution and digital advertising. Blocking the transaction could help preserve competitive opportunities for Newsmax’s Newsmax TV and streaming businesses, although the potential benefit is speculative. Newsmax pressures DOJ to block Fox’s $22B Roku deal
• Neutral Sentiment: The DOJ lobbying effort increases Newsmax’s visibility in a major media-industry transaction, but the reports do not indicate whether regulators will act or whether Newsmax would receive a direct financial benefit. Newsmax chief Ruddy pushes for DOJ to block Fox’s Roku deal
• Negative Sentiment: Major shareholder Conyers Investments LLC has continued selling NMAX shares, including 22,000 shares for approximately $243,540 and 14,251 shares for approximately $157,046. Although these sales represent only a small reduction in its roughly 22 million-share holding, repeated selling may weigh on sentiment and add supply to the market. Conyers Investments sells Newsmax shares
• Negative Sentiment: Newsmax carries a consensus “Sell” rating, including a recent downgrade to “Hold” and a prior sell rating. Analysts expect a small loss for the full year, while the company’s latest quarter showed a negative net margin, limiting fundamental support for the stock’s elevated valuation. Newsmax’s IPO Whiplash: Meme Stock Hype or Growth Potential?

Newsmax Company Profile

Newsmax, Inc is a multimedia news and information company that operates a conservative-oriented media platform serving audiences primarily in the United States. Its businesses include digital publishing, television broadcasting and related media products.

The company operates Newsmax.com, which publishes news, political commentary, business coverage, financial information and lifestyle content. It also operates Newsmax TV, a television network available through distribution partners and digital platforms, and offers streaming access and other subscription-based digital services.