Newsmax (NYSE:NMAX) Stock Price Down 4.3% – Here’s Why

Newsmax (NYSE:NMAX)’s share price was down 4.3% during trading on Tuesday . The stock traded as low as $18.66 and last traded at $18.91. Approximately 399,727 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 2,632,974 shares. The stock had previously closed at $19.75.

Newsmax Price Performance

The company has a 50-day simple moving average of $32.44.

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

Institutional Investors Weigh In On Newsmax

A number of hedge funds have recently modified their holdings of NMAX. Flagship Harbor Advisors LLC acquired a new stake in Newsmax in the first quarter valued at approximately $551,000. Sassicaia Capital Advisers LLC purchased a new position in Newsmax during the first quarter worth about $309,000. Woodard & Co. Asset Management Group Inc. ADV acquired a new position in Newsmax during the first quarter worth about $217,000. Allworth Financial LP acquired a new stake in shares of Newsmax in the first quarter valued at approximately $89,000. Finally, CWM LLC purchased a new position in shares of Newsmax during the first quarter valued at approximately $47,000.

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”).