Newsmax’s Quiet Period Set To Expire on May 12th (NYSE:NMAX)

Newsmax’s (NYSE:NMAX) quiet period is set to end on Monday, May 12th. Newsmax had issued 7,500,000 shares in its public offering on March 31st. The total size of the offering was $75,000,000 based on an initial share price of $10.00. During Newsmax’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Newsmax Price Performance

Shares of NMAX stock opened at $23.71 on Friday. Newsmax has a 12-month low of $14.00 and a 12-month high of $265.00.

Hedge Funds Weigh In On Newsmax

Large investors have recently added to or reduced their stakes in the stock. Woodard & Co. Asset Management Group Inc. ADV purchased a new stake in shares of Newsmax during the first quarter worth about $217,000. CWM LLC purchased a new stake in Newsmax during the 1st quarter worth approximately $47,000. Allworth Financial LP acquired a new stake in shares of Newsmax in the first quarter worth approximately $89,000. Golden State Wealth Management LLC acquired a new position in Newsmax in the 1st quarter valued at $39,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Newsmax during the first quarter worth $551,000.

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”).