Rovin Capital UT ADV Buys Shares of 39,975 Newsmax Inc. $NMAX

Rovin Capital UT ADV bought a new position in shares of Newsmax Inc. (NYSE:NMAX) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 39,975 shares of the company’s stock, valued at approximately $605,000.

Several other institutional investors have also recently bought and sold shares of the company. Freestone Capital Holdings LLC acquired a new stake in shares of Newsmax in the 2nd quarter valued at approximately $209,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Newsmax in the 2nd quarter valued at approximately $37,000. Stephens Inc. AR bought a new position in shares of Newsmax in the 2nd quarter valued at $749,000. Harbour Investments Inc. bought a new position in shares of Newsmax in the second quarter worth about $125,000. Finally, Axxcess Wealth Management LLC bought a new position in Newsmax in the 2nd quarter valued at approximately $282,000.

Newsmax Stock Performance

Shares of NMAX stock opened at $8.85 on Friday. The company has a market capitalization of $1.14 billion and a price-to-earnings ratio of -7.90. The company has a 50-day simple moving average of $11.93 and a two-hundred day simple moving average of $15.16. Newsmax Inc. has a 52-week low of $8.71 and a 52-week high of $265.00.

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

Analyst Upgrades and Downgrades

NMAX has been the subject of several recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Newsmax in a research report on Wednesday, October 8th. Maxim Group started coverage on shares of Newsmax in a research report on Thursday, July 24th. They set a “buy” rating and a $20.00 target price for the company. Wall Street Zen cut shares of Newsmax from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Zacks Research raised Newsmax to a “hold” rating in a research note on Friday, August 22nd. Finally, Noble Financial initiated coverage on shares of Newsmax in a research note on Thursday, August 21st. They issued an “outperform” rating and a $23.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.50.

About Newsmax

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”).