Newsmax (NYSE:NMAX) Stock: Insider Conyers Investments Llc Sells 14,251 Shares

Newsmax Inc. (NYSE:NMAX) major shareholder Conyers Investments Llc sold 14,251 shares of Newsmax stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $11.02, for a total value of $157,046.02. Following the transaction, the insider directly owned 21,987,639 shares in the company, valued at approximately $242,303,781.78. The trade was a 0.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more 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 transaction of $3,860.50.
• On Tuesday, September 22nd, Conyers Investments Llc sold 22,000 shares of Newsmax stock. The stock was sold at an average price of $11.07, for a total transaction of $243,540.00.
• 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 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 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 value of $357,224.32.

Newsmax Stock Up 0.6%

NMAX opened at $10.96 on Friday. The stock has a market cap of $1.42 billion, a PE ratio of -219.28 and a beta of 2.72. The business has a 50 day moving average of $9.77 and a 200-day moving average of $8.15. Newsmax Inc. has a 52 week low of $5.11 and a 52 week high of $13.18.

Newsmax (NYSE:NMAX) last released 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 during the quarter. Newsmax had a negative net margin of 3.15% and a negative return on equity of 8.28%. Equities analysts anticipate that Newsmax Inc. will post -0.02 EPS for the current year.

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?

Hedge Funds Weigh In On Newsmax

A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in shares of Newsmax during the 2nd quarter valued at $814,000. Greenwich Wealth Management LLC purchased a new stake in Newsmax in the fourth quarter valued at approximately $176,208,000. Entropy Technologies LP increased 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 period. Cetera Investment Advisers raised its stake in shares of Newsmax by 5.1% during the 1st quarter. Cetera Investment Advisers now owns 35,302 shares of the company’s stock valued at $184,000 after buying an additional 1,725 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its position in Newsmax by 6.9% during the first 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.

Analyst Upgrades and Downgrades

NMAX has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Newsmax from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. 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, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

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.