Conyers Investments Llc Sells 14,251 Shares of Newsmax (NYSE:NMAX) Stock

Newsmax Inc. (NYSE:NMAX) major shareholder Conyers Investments Llc sold 14,251 shares of Newsmax stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $11.02, for a total transaction of $157,046.02. Following the completion of the sale, the insider directly owned 21,987,639 shares in the company, valued at $242,303,781.78. This trade represents a 0.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Conyers Investments Llc also recently made the following trade(s):

• On Tuesday, September 22nd, Conyers Investments Llc sold 22,000 shares of Newsmax stock. The shares were sold at an average price of $11.07, for a total value of $243,540.00.
• On Tuesday, September 15th, Conyers Investments Llc sold 49,588 shares of Newsmax stock. The stock was sold at an average price of $11.15, for a total value of $552,906.20.
• On Monday, September 14th, Conyers Investments Llc sold 282,063 shares of Newsmax stock. The shares were sold at an average price of $11.55, for a total value of $3,257,827.65.
• On Friday, September 11th, Conyers Investments Llc sold 288 shares of Newsmax stock. The shares were sold at an average price of $11.70, for a total value of $3,369.60.
• On Thursday, September 10th, Conyers Investments Llc sold 24,448 shares of Newsmax stock. The shares were sold at an average price of $11.03, for a total value of $269,661.44.
• On Wednesday, September 2nd, Conyers Investments Llc sold 53,500 shares of Newsmax stock. The stock was sold at an average price of $11.03, for a total value of $590,105.00.
• On Friday, August 28th, Conyers Investments Llc sold 13,350 shares of Newsmax stock. The shares were sold at an average price of $11.04, for a total value of $147,384.00.
• On Friday, August 21st, Conyers Investments Llc sold 32,416 shares of Newsmax stock. The shares were sold at an average price of $11.02, for a total value of $357,224.32.

Newsmax Stock Performance

NYSE NMAX traded down $0.46 during trading on Wednesday, hitting $10.75. 171,534 shares of the company’s stock traded hands, compared to its average volume of 1,329,359. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -215.04 and a beta of 2.72. Newsmax Inc. has a 12-month low of $5.11 and a 12-month high of $13.25. The business has a 50 day moving average of $9.67 and a 200-day moving average of $8.11.

Newsmax (NYSE:NMAX) last posted its earnings results on Thursday, August 13th. The company reported $0.02 earnings per share for the quarter, topping 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. On average, analysts expect that Newsmax Inc. will post -0.02 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Newsmax in a report on Wednesday, July 8th. Wall Street Zen cut Newsmax from a “buy” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Newsmax

Institutional investors have recently bought and sold shares of the stock. Greenwich Wealth Management LLC purchased a new stake in Newsmax in the fourth quarter worth $176,208,000. Bank of New York Mellon Corp purchased a new position in Newsmax during the second quarter valued at $814,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Newsmax during the fourth quarter valued at $230,000. Aristides Capital LLC bought a new position in Newsmax in the 4th quarter worth about $162,000. Finally, Abel Hall LLC bought a new stake in shares of Newsmax during the first quarter valued at approximately $100,000.

About Newsmax

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.