Freestone Capital Holdings LLC Acquires New Holdings in Newsmax Inc. $NMAX

Freestone Capital Holdings LLC acquired a new stake in shares of Newsmax Inc. (NYSE:NMAX) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 13,807 shares of the company’s stock, valued at approximately $209,000.

Several other institutional investors have also added to or reduced their stakes in the business. CWM LLC acquired a new stake in Newsmax in the first quarter worth about $47,000. Allworth Financial LP acquired a new stake in Newsmax in the first quarter worth about $89,000. West Oak Capital LLC acquired a new stake in Newsmax in the second quarter worth about $30,000. SOA Wealth Advisors LLC. acquired a new stake in Newsmax in the second quarter worth about $32,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Newsmax in the second quarter worth about $37,000.

Newsmax Price Performance

Newsmax stock opened at $9.18 on Thursday. The stock has a market capitalization of $1.18 billion and a PE ratio of -8.20. Newsmax Inc. has a 12 month low of $8.95 and a 12 month high of $265.00. The business has a 50 day simple moving average of $12.06 and a 200-day simple moving average of $15.20.

Newsmax (NYSE:NMAX) last posted its quarterly earnings data on Tuesday, August 19th. The company reported ($0.59) EPS for the quarter. The company had revenue of $46.44 million during the quarter. Newsmax has set its FY 2025 guidance at EPS.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NMAX shares. Noble Financial started coverage on Newsmax in a report on Thursday, August 21st. They set an “outperform” rating and a $23.00 target price for the company. Maxim Group started coverage on Newsmax in a report on Thursday, July 24th. They set a “buy” rating and a $20.00 target price for the company. Wall Street Zen downgraded Newsmax from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Newsmax in a report on Wednesday, October 8th. Finally, Zacks Research raised Newsmax to a “hold” rating in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $21.50.

Newsmax Company Profile

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”).