Newsmax (NYSE:NMAX) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Newsmax (NYSE:NMAX) from a buy rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Newsmax in a research note on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Newsmax Stock Performance

Shares of NYSE NMAX opened at $10.30 on Friday. The company has a market cap of $1.33 billion, a P/E ratio of -206.00 and a beta of 2.72. The firm’s fifty day moving average is $9.56 and its two-hundred day moving average is $8.04. Newsmax has a 52-week low of $5.11 and a 52-week high of $13.60.

Newsmax (NYSE:NMAX) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) 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 company had revenue of $54.12 million for the quarter. As a group, analysts forecast that Newsmax will post -0.02 EPS for the current fiscal year.

Insider Transactions at Newsmax

In other Newsmax news, major shareholder Conyers Investments Llc sold 282,063 shares of the company’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $11.55, for a total value of $3,257,827.65. Following the transaction, the insider owned 22,051,478 shares of the company’s stock, valued at $254,694,570.90. This represents a 1.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 455,653 shares of company stock worth $5,178,478. 61.03% of the stock is owned by insiders.

Institutional Trading of Newsmax

Institutional investors and hedge funds have recently made changes to their positions in the business. Greenwich Wealth Management LLC bought a new position in shares of Newsmax in the fourth quarter worth about $176,208,000. UBS Group AG lifted its holdings in Newsmax by 4,495.3% during the 4th quarter. UBS Group AG now owns 421,342 shares of the company’s stock valued at $3,257,000 after buying an additional 412,173 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Newsmax during the 2nd quarter valued at about $814,000. Caitong International Asset Management Co. Ltd purchased a new stake in Newsmax in the 4th quarter valued at about $230,000. Finally, Kestra Advisory Services LLC grew its stake in Newsmax by 6.9% in the 1st quarter. Kestra Advisory Services LLC now owns 41,747 shares of the company’s stock worth $218,000 after acquiring an additional 2,697 shares in the last quarter.

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.