UMB Bank n.a. Invests $62,000 in Newsmax Inc. $NMAX

UMB Bank n.a. acquired a new position in Newsmax Inc. (NYSE:NMAX) during the second quarter, HoldingsChannel reports. The institutional investor acquired 4,110 shares of the company’s stock, valued at approximately $62,000.

A number of other large investors have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Newsmax in the 2nd quarter worth approximately $491,000. Krilogy Financial LLC purchased a new position in shares of Newsmax in the 2nd quarter valued at approximately $240,000. Sassicaia Capital Advisers LLC purchased a new position in shares of Newsmax in the 1st quarter valued at approximately $309,000. Woodard & Co. Asset Management Group Inc. ADV purchased a new position in shares of Newsmax in the 1st quarter valued at approximately $217,000. Finally, CWM LLC purchased a new position in shares of Newsmax in the 1st quarter valued at approximately $47,000.

Wall Street Analysts Forecast Growth

NMAX has been the subject of a number of research analyst reports. Wall Street Zen upgraded Newsmax from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Maxim Group initiated coverage on Newsmax in a research note on Thursday, July 24th. They issued a “buy” rating and a $20.00 target price for the company. Noble Financial initiated coverage on Newsmax in a research note on Thursday, August 21st. They issued an “outperform” rating and a $23.00 target price for the company. Finally, Zacks Research upgraded Newsmax to a “hold” rating in a research note on Friday, August 22nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Newsmax currently has an average rating of “Moderate Buy” and an average price target of $21.50.

Newsmax Price Performance

Shares of NYSE:NMAX opened at $12.64 on Friday. The company’s fifty day moving average is $13.30. Newsmax Inc. has a 12-month low of $11.40 and a 12-month high of $265.00.

Newsmax (NYSE:NMAX) last announced its quarterly earnings data on Tuesday, August 19th. The company reported ($0.59) earnings per share (EPS) for the quarter. The business had revenue of $46.44 million during 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”).