Newsmax Sees Unusually Large Options Volume (NYSE:NMAX)

Newsmax Inc. (NYSE:NMAX) saw unusually large options trading activity on Wednesday. Stock investors acquired 13,430 call options on the company. This is an increase of approximately 1,505% compared to the average daily volume of 837 call options.

Hedge Funds Weigh In On Newsmax

Institutional investors have recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV increased its position in Newsmax by 705.2% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 6,216 shares of the company’s stock worth $77,000 after purchasing an additional 5,444 shares in the last quarter. Hohimer Wealth Management LLC acquired a new position in Newsmax during the 3rd quarter worth approximately $503,000. AXQ Capital LP acquired a new position in Newsmax during the 3rd quarter worth approximately $143,000. Counterpoint Mutual Funds LLC acquired a new position in Newsmax during the 3rd quarter worth approximately $508,000. Finally, Axxcess Wealth Management LLC increased its position in Newsmax by 74.9% during the 3rd quarter. Axxcess Wealth Management LLC now owns 32,621 shares of the company’s stock worth $404,000 after purchasing an additional 13,975 shares in the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Newsmax in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Newsmax has an average rating of “Hold” and a consensus target price of $21.50.

Newsmax Price Performance

NMAX stock opened at $9.29 on Thursday. The company has a 50 day simple moving average of $6.34 and a 200 day simple moving average of $7.89. The stock has a market cap of $1.20 billion and a price-to-earnings ratio of -8.00. Newsmax has a 1 year low of $5.11 and a 1 year high of $27.49.

Newsmax (NYSE:NMAX) last released its quarterly earnings data on Thursday, March 26th. The company reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $52.24 million during the quarter. Newsmax had a negative net margin of 52.57% and a negative return on equity of 82.25%. On average, equities research analysts anticipate that Newsmax will post -0.19 EPS for the current fiscal year.

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.