Newsmax (NYSE:NMAX) Stock Rating Upgraded by Wall Street Zen

Newsmax (NYSE:NMAX) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday, Wall Street Zen reports.

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

Newsmax Price Performance

Newsmax stock opened at $9.46 on Friday. The firm has a market capitalization of $1.22 billion, a P/E ratio of -189.10 and a beta of 2.56. The stock has a fifty day moving average price of $10.06 and a two-hundred day moving average price of $8.30. Newsmax has a 52-week low of $5.11 and a 52-week high of $13.18.

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 company had revenue of $54.12 million for the quarter. Newsmax had a negative net margin of 3.15% and a negative return on equity of 8.28%. On average, equities research analysts predict that Newsmax will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Newsmax news, 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 transaction, the insider owned 22,051,478 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 494,886 shares of company stock valued at $5,611,995 over the last quarter. 61.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in Newsmax by 5.0% during the 1st quarter. Bank of New York Mellon Corp now owns 110,775 shares of the company’s stock worth $578,000 after buying an additional 5,283 shares in the last quarter. Kestra Advisory Services LLC increased its position in Newsmax by 6.9% in the 1st quarter. Kestra Advisory Services LLC now owns 41,747 shares of the company’s stock valued at $218,000 after acquiring an additional 2,697 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Newsmax by 5.1% in the first quarter. Cetera Investment Advisers now owns 35,302 shares of the company’s stock worth $184,000 after acquiring an additional 1,725 shares during the last quarter. Entropy Technologies LP raised its stake in shares of Newsmax by 54.7% in the first quarter. Entropy Technologies LP now owns 35,280 shares of the company’s stock worth $184,000 after acquiring an additional 12,480 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Newsmax during the fourth quarter worth approximately $230,000.

Newsmax Company Profile

Newsmax, Inc is a media and communications company that operates Newsmax, a conservative news and information brand. Its businesses provide news, political commentary, analysis and lifestyle content through television, digital media and publishing platforms.

The company’s principal properties include Newsmax TV, a news and opinion television network distributed through pay-TV providers and streaming services, and Newsmax.com, its online news and information platform. Newsmax also offers content through mobile and connected-device applications, email newsletters, podcasts and social media channels, along with magazine and publishing products.

Newsmax was founded in 1998 by Christopher Ruddy, who serves as the company’s chief executive officer and chairman.