Newsmax (NYSE:NMAX) Sets New 12-Month Low – Here’s What Happened

Newsmax (NYSE:NMAX) hit a new 52-week low during trading on Tuesday . The company traded as low as $13.70 and last traded at $14.42, with a volume of 534505 shares trading hands. The stock had previously closed at $14.77.

Newsmax Price Performance

The business has a 50 day moving average price of $25.49.

Newsmax (NYSE:NMAX) last announced its quarterly earnings results 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 Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC purchased a new position in Newsmax in the first quarter worth $551,000. Sassicaia Capital Advisers LLC purchased a new position in Newsmax in the 1st quarter worth $309,000. Woodard & Co. Asset Management Group Inc. ADV purchased a new stake in Newsmax during the first quarter valued at about $217,000. Allworth Financial LP bought a new stake in shares of Newsmax in the 1st quarter valued at about $89,000. Finally, CWM LLC bought a new position in Newsmax during the 1st quarter worth approximately $47,000.

Newsmax Company Profile

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”).