Newsmax (NYSE:NMAX) Rating Increased to Buy at Wall Street Zen

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

Separately, Weiss Ratings reissued 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 company currently has an average rating of “Sell”.

Newsmax Stock Performance

Shares of NMAX stock opened at $10.67 on Friday. The firm has a market cap of $1.38 billion, a P/E ratio of -213.40 and a beta of 2.72. The firm’s 50 day moving average price is $9.13 and its 200-day moving average price is $7.68. Newsmax has a one year low of $5.11 and a one year high of $13.60.

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

Insider Activity at Newsmax

In other news, major shareholder Conyers Investments Llc sold 53,500 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $11.03, for a total transaction of $590,105.00. Following the sale, the insider owned 22,696,089 shares of the company’s stock, valued at approximately $250,337,861.67. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 99,266 shares of company stock valued at $1,094,713 in the last three months. Insiders own 61.03% of the company’s stock.

Institutional Investors Weigh In On Newsmax

Several large investors have recently bought and sold shares of NMAX. Advisory Services Network LLC purchased a new position in shares of Newsmax in the 3rd quarter valued at about $26,000. Osterweis Capital Management Inc. acquired a new position in Newsmax during the 2nd quarter worth approximately $32,000. Smartleaf Asset Management LLC purchased a new stake in shares of Newsmax in the 4th quarter valued at approximately $32,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Newsmax in the 2nd quarter valued at approximately $63,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Newsmax in the 2nd quarter valued at $76,000.

Newsmax Company Profile

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.