Rovin Capital UT ADV Purchases New Position in Newsmax Inc. $NMAX

Rovin Capital UT ADV acquired a new stake in Newsmax Inc. (NYSE:NMAX) in the second quarter, Holdings Channel.com reports. The firm acquired 39,975 shares of the company’s stock, valued at approximately $605,000.

Several other institutional investors have also recently made changes to their positions in NMAX. Stephens Inc. AR bought a new stake in shares of Newsmax during the second quarter valued at about $749,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Newsmax in the second quarter worth approximately $491,000. Heck Capital Advisors LLC bought a new position in shares of Newsmax in the 2nd quarter worth $419,000. Arkansas Financial Group Inc. purchased a new stake in shares of Newsmax during the 2nd quarter valued at $327,000. Finally, Axxcess Wealth Management LLC bought a new stake in Newsmax during the second quarter worth about $282,000.

Newsmax Stock Down 3.4%

NMAX opened at $8.85 on Friday. Newsmax Inc. has a 52 week low of $8.71 and a 52 week high of $265.00. The stock’s fifty day moving average is $11.93 and its two-hundred day moving average is $15.16. The company has a market capitalization of $1.14 billion and a P/E ratio of -7.90.

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Newsmax in a research note on Wednesday, October 8th. Maxim Group started coverage on Newsmax in a research report on Thursday, July 24th. They set a “buy” rating and a $20.00 price objective for the company. Noble Financial began coverage on shares of Newsmax in a research report on Thursday, August 21st. They set an “outperform” rating and a $23.00 price target for the company. Zacks Research raised shares of Newsmax to a “hold” rating in a research report on Friday, August 22nd. Finally, Wall Street Zen cut shares of Newsmax from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Two 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.com, the stock currently has an average rating of “Hold” and an average price target of $21.50.

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”).