SOA Wealth Advisors LLC. Purchases New Stake in Newsmax Inc. $NMAX

SOA Wealth Advisors LLC. purchased a new stake in shares of Newsmax Inc. (NYSE:NMAX) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 2,104 shares of the company’s stock, valued at approximately $32,000.

Other institutional investors also recently added to or reduced their stakes in the company. West Oak Capital LLC bought a new position in Newsmax during the second quarter valued at about $30,000. Golden State Wealth Management LLC bought a new position in Newsmax during the first quarter valued at about $39,000. CWM LLC bought a new position in Newsmax during the first quarter valued at about $47,000. North Star Investment Management Corp. bought a new position in Newsmax during the second quarter valued at about $51,000. Finally, PFS Partners LLC bought a new position in Newsmax during the second quarter valued at about $52,000.

Analyst Ratings Changes

A number of brokerages have weighed in on NMAX. Noble Financial began coverage on shares of Newsmax in a research report on Thursday, August 21st. They set an “outperform” rating and a $23.00 target price for the company. Zacks Research upgraded shares of Newsmax to a “hold” rating in a research report on Friday, August 22nd. Maxim Group began coverage on shares of Newsmax in a research report on Thursday, July 24th. They set a “buy” rating and a $20.00 target price for the company. Wall Street Zen lowered shares of Newsmax from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Newsmax in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.50.

Newsmax Trading Down 0.0%

Shares of NMAX opened at $12.71 on Friday. The company has a 50 day moving average of $13.10. Newsmax Inc. has a 1-year low of $11.40 and a 1-year high of $265.00.

Newsmax (NYSE:NMAX) last posted its quarterly earnings results on Tuesday, August 19th. The company reported ($0.59) EPS for the quarter. The business had revenue of $46.44 million for the quarter. Newsmax has set its FY 2025 guidance at EPS.

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”).