Newsmax (NYSE:NMAX) Issues Quarterly Earnings Results

Newsmax (NYSE:NMAX) announced its quarterly earnings data on Thursday. The company reported $0.04 EPS for the quarter, FiscalAI reports. Newsmax had a negative net margin of 55.99% and a negative return on equity of 255.61%. The firm had revenue of $52.24 million during the quarter.

Newsmax Trading Up 0.3%

Shares of NYSE:NMAX traded up $0.02 on Thursday, reaching $6.02. 857,049 shares of the company were exchanged, compared to its average volume of 893,612. The company has a 50-day moving average of $6.66 and a 200-day moving average of $8.80. The firm has a market cap of $776.97 million and a price-to-earnings ratio of -5.19. Newsmax has a 1-year low of $5.18 and a 1-year high of $265.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NMAX. Hollencrest Capital Management purchased a new position in Newsmax in the second quarter valued at about $25,000. Advisory Services Network LLC purchased a new stake in shares of Newsmax during the 3rd quarter worth approximately $26,000. Harbor Investment Advisory LLC grew its holdings in shares of Newsmax by 139.8% in the 3rd quarter. Harbor Investment Advisory LLC now owns 2,398 shares of the company’s stock worth $30,000 after acquiring an additional 1,398 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Newsmax in the 2nd quarter worth approximately $32,000. Finally, Osterweis Capital Management Inc. purchased a new position in Newsmax in the 2nd quarter valued at approximately $32,000.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Newsmax in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.50.

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.