Newsmax (NYSE:NMAX) Trading Down 0.5% – Should You Sell?
by Sarita Garza · The Markets DailyNewsmax Inc. (NYSE:NMAX – Get Free Report) traded down 0.5% during mid-day trading on Tuesday . The company traded as low as $8.03 and last traded at $8.1450. 521,178 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 1,023,716 shares. The stock had previously closed at $8.19.
Analyst Ratings Changes
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Newsmax in a research report on Wednesday, July 8th. Two investment 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 MarketBeat, Newsmax presently has an average rating of “Hold” and a consensus price target of $21.50.
View Our Latest Report on NMAX
Newsmax Price Performance
The stock has a fifty day moving average of $8.13 and a 200 day moving average of $7.15. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -11.75 and a beta of 2.65.
Institutional Trading of Newsmax
Several large investors have recently made changes to their positions in NMAX. NewEdge Advisors LLC lifted its position in Newsmax by 7.9% during the first quarter. NewEdge Advisors LLC now owns 17,415 shares of the company’s stock valued at $91,000 after purchasing an additional 1,282 shares during the period. Foundations Investment Advisors LLC grew its position in Newsmax by 15.1% during the 4th quarter. Foundations Investment Advisors LLC now owns 13,048 shares of the company’s stock worth $101,000 after purchasing an additional 1,711 shares during the period. Cetera Investment Advisers grew its position in Newsmax by 5.1% during the 1st quarter. Cetera Investment Advisers now owns 35,302 shares of the company’s stock worth $184,000 after purchasing an additional 1,725 shares during the period. Advisory Services Network LLC purchased a new position in shares of Newsmax during the 3rd quarter valued at about $26,000. Finally, Osterweis Capital Management Inc. purchased a new position in shares of Newsmax during the 2nd quarter valued at about $32,000.
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.