Traders Purchase Large Volume of Newsmax Call Options (NYSE:NMAX)

Newsmax Inc. (NYSE:NMAX) was the target of some unusual options trading activity on Wednesday. Stock investors acquired 13,430 call options on the stock. This is an increase of approximately 1,505% compared to the average volume of 837 call options.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NMAX. Advisory Services Network LLC acquired a new position in shares of Newsmax during the third quarter worth $26,000. Harbor Investment Advisory LLC lifted its position in shares of Newsmax by 139.8% during the third quarter. Harbor Investment Advisory LLC now owns 2,398 shares of the company’s stock worth $30,000 after purchasing an additional 1,398 shares in the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of Newsmax during the second quarter worth $32,000. Smartleaf Asset Management LLC acquired a new stake in Newsmax in the fourth quarter valued at $32,000. Finally, Russell Investments Group Ltd. raised its holdings in Newsmax by 559.0% in the fourth quarter. Russell Investments Group Ltd. now owns 6,096 shares of the company’s stock valued at $47,000 after acquiring an additional 5,171 shares in the last quarter.

Newsmax Trading Up 29.0%

Shares of NYSE:NMAX traded up $2.11 during midday trading on Wednesday, hitting $9.39. The stock had a trading volume of 2,961,073 shares, compared to its average volume of 942,147. The company has a market capitalization of $1.21 billion and a PE ratio of -8.17. The stock has a 50 day moving average price of $6.28 and a two-hundred day moving average price of $7.88. Newsmax has a 1 year low of $5.11 and a 1 year high of $27.49.

Newsmax (NYSE:NMAX) last issued its earnings results on Thursday, March 26th. The company reported $0.04 earnings per share for the quarter. The business had revenue of $52.24 million for the quarter. Newsmax had a negative net margin of 52.57% and a negative return on equity of 82.25%. As a group, equities analysts expect that Newsmax will post -0.19 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Newsmax in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.50.

About Newsmax

Newsmax (NYSE:NMAX) is a diversified media company that produces and distributes conservative-oriented news, opinion and informational content. The company operates across multiple platforms, including a cable news channel, a digital streaming service, a website, a print magazine and various mobile applications. Newsmax focuses on delivering political coverage, financial analysis and cultural commentary to its audience.

Originally launched as a news website in 1998, Newsmax expanded into print with the debut of Newsmax magazine in 2003 and later launched its flagship cable network, Newsmax TV, in 2014.