Newsmax (NYSE:NMAX) Stock: Insider Conyers Investments Llc Sells 2,191 Shares

Newsmax Inc. (NYSE:NMAX) major shareholder Conyers Investments Llc sold 2,191 shares of the firm’s stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $11.05, for a total value of $24,210.55. Following the transaction, the insider owned 21,962,657 shares of the company’s stock, valued at $242,687,359.85. This trade represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Conyers Investments Llc also recently made the following trade(s):

• On Thursday, September 24th, Conyers Investments Llc sold 441 shares of Newsmax stock. The stock was sold at an average price of $11.02, for a total transaction of $4,859.82.
• 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 value of $243,540.00.
• On Monday, September 21st, Conyers Investments Llc sold 14,251 shares of Newsmax stock. The stock was sold at an average price of $11.02, for a total transaction of $157,046.02.
• 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 value 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 value of $3,257,827.65.
• On Friday, September 11th, Conyers Investments Llc sold 288 shares of Newsmax stock. The stock was sold at an average price of $11.70, for a total transaction 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 value of $269,661.44.
• On Wednesday, September 2nd, Conyers Investments Llc sold 53,500 shares of Newsmax stock. The shares were sold at an average price of $11.03, for a total value of $590,105.00.
• On Friday, August 28th, Conyers Investments Llc sold 13,350 shares of Newsmax stock. The stock was sold at an average price of $11.04, for a total value of $147,384.00.

Newsmax Trading Down 1.1%

Newsmax stock traded down $0.12 on Tuesday, hitting $10.79. 202,200 shares of the stock traded hands, compared to its average volume of 1,315,203. Newsmax Inc. has a 1 year low of $5.11 and a 1 year high of $13.18. The firm has a market cap of $1.39 billion, a P/E ratio of -216.04 and a beta of 2.72. The business’s fifty day simple moving average is $9.87 and its 200 day simple moving average is $8.20.

Newsmax (NYSE:NMAX) last announced its earnings results 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. Newsmax had a negative net margin of 3.15% and a negative return on equity of 8.28%. The business had revenue of $54.12 million during the quarter. As a group, analysts predict that Newsmax Inc. will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NMAX. Bank of New York Mellon Corp purchased a new position in shares of Newsmax in the 2nd quarter valued at $814,000. Greenwich Wealth Management LLC bought a new position in shares of Newsmax during the fourth quarter worth about $176,208,000. Entropy Technologies LP raised its position in shares of Newsmax by 54.7% during the 1st quarter. Entropy Technologies LP now owns 35,280 shares of the company’s stock worth $184,000 after buying an additional 12,480 shares in the last quarter. Cetera Investment Advisers raised its holdings in Newsmax by 5.1% during the first quarter. Cetera Investment Advisers now owns 35,302 shares of the company’s stock worth $184,000 after purchasing an additional 1,725 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its position in shares of Newsmax by 6.9% during the 1st quarter. Kestra Advisory Services LLC now owns 41,747 shares of the company’s stock valued at $218,000 after purchasing an additional 2,697 shares during the period.

Analyst Ratings Changes

Several analysts have issued reports on NMAX shares. Wall Street Zen cut Newsmax from a “buy” rating to a “hold” rating in a research report on Saturday, September 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Newsmax in a report on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Newsmax currently 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.