UBS Group AG Increases Position in Newsmax Inc. $NMAX

UBS Group AG raised its position in Newsmax Inc. (NYSE:NMAX) by 4,495.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 421,342 shares of the company’s stock after purchasing an additional 412,173 shares during the quarter. UBS Group AG’s holdings in Newsmax were worth $3,257,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Consulate Inc. grew its stake in shares of Newsmax by 50,418.5% in the fourth quarter. Financial Consulate Inc. now owns 13,640 shares of the company’s stock worth $105,000 after acquiring an additional 13,613 shares in the last quarter. Defender Capital LLC. acquired a new position in shares of Newsmax in the fourth quarter worth $211,000. Fisher Asset Management LLC acquired a new position in shares of Newsmax in the third quarter worth $135,000. PNC Financial Services Group Inc. grew its stake in shares of Newsmax by 350.7% in the third quarter. PNC Financial Services Group Inc. now owns 11,584 shares of the company’s stock worth $144,000 after acquiring an additional 9,014 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of Newsmax by 705.2% in the third quarter. Creative Financial Designs Inc. ADV now owns 6,216 shares of the company’s stock worth $77,000 after acquiring an additional 5,444 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Newsmax in a research note on Friday, March 27th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Newsmax currently has an average rating of “Hold” and an average target price of $21.50.

Newsmax Stock Down 0.2%

NYSE:NMAX opened at $7.55 on Monday. The company has a fifty day simple moving average of $6.49 and a two-hundred day simple moving average of $7.23. The company has a market cap of $974.36 million, a price-to-earnings ratio of -11.43 and a beta of 2.25. Newsmax Inc. has a 52 week low of $5.11 and a 52 week high of $23.29.

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 43.17% and a negative return on equity of 81.14%. On average, analysts expect that Newsmax Inc. will post -0.16 EPS for the current year.

Newsmax Company Profile

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.