Newsmax (NYSE:NMAX) Major Shareholder Conyers Investments Llc Sells 282,063 Shares

Newsmax Inc. (NYSE:NMAX) major shareholder Conyers Investments Llc sold 282,063 shares of the business’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $11.55, for a total value of $3,257,827.65. Following the sale, the insider owned 22,051,478 shares in the company, valued at approximately $254,694,570.90. The trade was a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Large 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 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 value of $552,906.20.
• 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 value 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 value 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 Trading Down 3.5%

Shares of NMAX opened at $10.39 on Thursday. The stock has a market cap of $1.34 billion, a P/E ratio of -207.84 and a beta of 2.72. The company has a 50-day moving average of $9.48 and a two-hundred day moving average of $7.99. Newsmax Inc. has a 12-month low of $5.11 and a 12-month high of $13.60.

Newsmax (NYSE:NMAX) last released its quarterly 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. Newsmax had a negative net margin of 3.15% and a negative return on equity of 8.28%. The business had revenue of $54.12 million for the quarter. As a group, analysts forecast that Newsmax Inc. will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NMAX has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Newsmax in a research report on Wednesday, July 8th. Wall Street Zen raised Newsmax from a “hold” rating to a “buy” rating in a research note on Saturday, September 5th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Hedge Funds Weigh In On Newsmax

A number of hedge funds have recently made changes to their positions in NMAX. Bank of New York Mellon Corp purchased a new stake in Newsmax during the second quarter valued at about $814,000. UBS Group AG raised its holdings in shares of 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 purchasing an additional 412,173 shares during the period. Greenwich Wealth Management LLC acquired a new position in shares of Newsmax in the 4th quarter valued at about $176,208,000. Entropy Technologies LP lifted its stake in shares of Newsmax by 54.7% in the 1st quarter. Entropy Technologies LP now owns 35,280 shares of the company’s stock valued at $184,000 after purchasing an additional 12,480 shares in the last quarter. Finally, Kestra Advisory Services LLC grew its holdings in shares of Newsmax by 6.9% during the 1st 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 period.

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.