Newsmax Inc. $NMAX Shares Bought by UBS Group AG

UBS Group AG raised its holdings in Newsmax Inc. (NYSE:NMAX) by 4,495.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 421,342 shares of the company’s stock after acquiring an additional 412,173 shares during the period. UBS Group AG owned approximately 0.33% of Newsmax worth $3,257,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Soviero Asset Management LP purchased a new stake in shares of Newsmax in the 3rd quarter valued at approximately $2,914,000. Bank of America Corp DE grew its stake in shares of Newsmax by 910,880.0% in the 2nd quarter. Bank of America Corp DE now owns 136,647 shares of the company’s stock valued at $2,067,000 after buying an additional 136,632 shares during the period. HRT Financial LP grew its stake in shares of Newsmax by 4,150.9% in the 2nd quarter. HRT Financial LP now owns 103,934 shares of the company’s stock valued at $1,572,000 after buying an additional 101,489 shares during the period. Geode Capital Management LLC purchased a new stake in shares of Newsmax in the 2nd quarter valued at approximately $1,425,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Newsmax in the 2nd quarter valued at approximately $1,279,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Newsmax in a research note on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.50.

Newsmax Stock Performance

Newsmax stock opened at $7.55 on Monday. The company has a market capitalization of $974.36 million, a PE ratio of -11.43 and a beta of 2.25. Newsmax Inc. has a fifty-two week low of $5.11 and a fifty-two week high of $23.29. The firm has a 50 day moving average price of $6.49 and a 200 day moving average price of $7.23.

Newsmax (NYSE:NMAX) last announced its earnings results on Thursday, March 26th. The company reported $0.04 earnings per share (EPS) for the quarter. The company had revenue of $52.24 million for the quarter. Newsmax had a negative return on equity of 81.14% and a negative net margin of 43.17%. As a group, equities research analysts forecast that Newsmax Inc. will post -0.16 earnings per share for the current year.

Newsmax 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.