Conyers Investments Llc Sells 13,350 Shares of Newsmax (NYSE:NMAX) Stock

Newsmax Inc. (NYSE:NMAX) major shareholder Conyers Investments Llc sold 13,350 shares of Newsmax stock in a transaction on Friday, August 28th. The shares were sold at an average price of $11.04, for a total value of $147,384.00. Following the sale, the insider directly owned 22,749,589 shares in the company, valued at $251,155,462.56. The trade was a 0.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions 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 value of $357,224.32.

Newsmax Stock Performance

NYSE:NMAX opened at $10.35 on Wednesday. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -207.00 and a beta of 2.70. Newsmax Inc. has a 1 year low of $5.11 and a 1 year high of $14.28. The business has a fifty day moving average of $8.91 and a 200-day moving average of $7.58.

Newsmax (NYSE:NMAX) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.05. The business 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 Inc. will post -0.02 EPS for the current year.

Institutional Trading of Newsmax

A number of hedge funds and other institutional investors have recently modified their holdings of NMAX. Advisory Services Network LLC acquired a new stake in shares of Newsmax in the third quarter valued at $26,000. Osterweis Capital Management Inc. acquired a new position in Newsmax during the second quarter worth about $32,000. Smartleaf Asset Management LLC acquired a new position in Newsmax during the fourth quarter worth about $32,000. Russell Investments Group Ltd. raised its position in Newsmax by 559.0% in the fourth quarter. Russell Investments Group Ltd. now owns 6,096 shares of the company’s stock worth $47,000 after acquiring an additional 5,171 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Newsmax in the second quarter worth about $63,000.

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, Newsmax currently has an average rating of “Sell”.

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.