Newsmax (NYSE:NMAX) Trading Down 1.3% – Time to Sell?

Newsmax (NYSE:NMAX) shares traded down 1.3% during trading on Friday . The company traded as low as $12.16 and last traded at $12.51. 745,565 shares changed hands during trading, a decline of 72% from the average session volume of 2,663,426 shares. The stock had previously closed at $12.67.

Newsmax Stock Down 2.5%

The firm’s fifty day simple moving average is $22.68.

Newsmax (NYSE:NMAX) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.53) EPS for the quarter. The firm had revenue of $45.30 million during the quarter.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Sassicaia Capital Advisers LLC bought a new position in Newsmax during the first quarter valued at about $309,000. CWM LLC bought a new position in Newsmax during the first quarter valued at about $47,000. Woodard & Co. Asset Management Group Inc. ADV bought a new position in Newsmax during the first quarter valued at about $217,000. Allworth Financial LP acquired a new position in shares of Newsmax in the 1st quarter valued at $89,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Newsmax in the 1st quarter valued at $39,000.

About Newsmax

Newsmax Inc is a holding company that owns 100% of the equity interests of its operating company Newsmax Media, Inc (“Newsmax Media”). Newsmax Media and its subsidiaries operate the businesses described in this Offering Circular. Newsmax Media has six wholly-owned subsidiaries: Newsmax Broadcasting, LLC, a Florida limited liability company (“Newsmax Broadcasting”), Crown Atlantic Insurance, LLC, a Florida limited liability company (“Crown Atlantic”), Humanix Publishing, LLC, a Florida limited liability company (“Humanix Publishing”), Medix Health LLC, a Florida limited liability company (“Medix Health”), ROI Media Strategies, LLC, a Florida limited liability company (“ROI Media Strategies”), and Newsmax Radio LLC, a Florida limited liability company (“Newsmax Radio,” and together with Newsmax Media, Newsmax Broadcasting, Crown Atlantic Insurance, Humanix Publishing, Medix Health, and ROI Media Strategies, the “Subsidiaries”).