Conyers Investments Llc (10% owner) sold $3.3M of stock
SEC Form 4
Newsmax Inc. is a US-listed company in the broadcasting industry. Its financial year ends in December.
Stock price today
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Third-party market data · may be delayed
Model estimate per share
Not valued: the figures our models need are missing or failed our data-quality checks.
Price vs value
No model value: limited reported history: available models are shown without a Buy/Hold/Sell rating. How we value companies.
Newsmax Inc. valuation: adjust assumptions and compare models →
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Insiders0 buying, 1 selling0 purchases and 13 sales by directors and officers, last 12 monthsInsider trades
- Funds104 adding, 64 cuttingOf 18 active managers that changed their stake, 11 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 167% in the quarter to 2026-06-30, the 4th beat in the last four quarters.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
- Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
- Estimates rising. Analysts' consensus for next year's earnings per share has risen 19.4% over 90 days.
Things to watch
- Results due soon. Results are expected around 12 November; the share price can move sharply on the day.
- Volatile shares. Over the past year the shares showed annualised volatility of 76% and a beta of 1.7 against the S&P 500.
- Heavily shorted. 63.5% of the shares available to trade are sold short (5.0 days of average volume to cover).
Latest results
- Earnings per share
- $0.02 against an average estimate of -$0.03: beat by 166.7%
- Share reaction
- +22.7% in the first session after the results on August 13, 2026, against +0.5% for the S&P 500
- Next report
- November 12, 2026
Price chart
- 1 day-1.0%
- 1 week+2.4%
- 1 month-16.1%
- This year+3.4%
- 1 year-20.1%
- S&P 500 this year+11.2%
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Third-party market data · may be delayed
At a glance
Earnings
- Last results
- August 13, 2026
- Next results (est.)
- November 12, 2026
News & updates
Company announcements, filed results and changes that matter to shareholders.
- Insider trade
- Results
Newsmax Inc. reported results; made a public disclosure
SEC 8-KRead source ↗
Valuation models
We value Newsmax Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.8%: the 10-year Treasury yield (4.9%) plus a beta of 0.86 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: revenue and margins don't support a positive value |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | — | No model applies: the filings don’t yet support a value. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Newsmax Inc. with Broadcasting in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
Forecasts and guidance
Next results: November 12, 2026, after the close. Analysts expect revenue of $50m for the quarter.
Analysts' consensus
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | −$0.01 | +99% | $214m | +13% |
| Next | $0.21 | +1713% | $239m | +12% |
Next year's EPS estimate has moved +19.4% in 90 days, across 2 analysts.
How the EPS forecast has moved
The consensus EPS forecast for the current fiscal year is −79.5% on 90 days ago. In the last 30 days, 2 analysts raised Newsmax Inc.'s forecast and 0 cut it.
Average of analysts' published estimates (third-party data).
View chart data
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | −$0.07 | $0.18 |
| 60 days ago | −$0.03 | $0.06 |
| 30 days ago | −$0.01 | $0.21 |
| 7 days ago | −$0.01 | $0.21 |
| Now | −$0.01 | $0.21 |
Earnings against estimates
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | −$0.03 | $0.02 | +166.7% |
| Mar 2026 | −$0.03 | −$0.02 | +33.3% |
| Dec 2025 | −$0.09 | −$0.04 | +55.6% |
| Sept 2025 | −$0.07 | −$0.03 | +57.1% |
Adjusted EPS as companies report it, against the average analyst estimate.
Positioning
- Short interest
- 63.5% of tradable shares
- Days to cover
- 4.97 at average volume
- Short interest, 1 month
- −2% to October 15, 2026
- Held by institutions
- 66% of shares
- Held by insiders
- 21.9% of shares
- Employees
- 500 full time
Share-price performance
Market data may be delayedReturn and risk by year
| Calendar year | 2026 to date |
|---|---|
| Return | |
| NMAX | +3% |
| Industry peers (median) | −13% |
| S&P 500 | +11% |
| Months that ended higher | |
| NMAX | 36% |
| S&P 500 | 46% |
| Largest fall from a high during the year | |
| NMAX | −37% |
| S&P 500 | −9% |
Worst fall since March 31, 2025: 98% from April 1, 2025 to March 30, 2026. Getting back needed a 4416% gain, and the shares have not yet recovered.
Price behaviour
- 52-week range
- $5.16 – $11.43
- From 52-week high
- −30.1%
- vs 50-day average
- −19.8%
- vs 200-day average
- −0.3%
- Volatility (1 year)
- 77%
- Beta vs S&P 500
- 1.67
Share price after results
- Next day
- 4 up, 2 down typical move ±9.0%
- After a week
- 4 up, 2 down typical move ±11.8%
- After a month
- 3 up, 3 down typical move ±16.2%
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| August 13, 2026 | +22.7% | +0.5% | +22.7% | +28.7% |
| May 14, 2026 | +5.7% | −0.4% | +8.4% | +14.8% |
| March 26, 2026 | −2.0% | −3.5% | −5.3% | −0.5% |
| November 13, 2025 | −9.9% | −1.7% | −15.1% | +6.7% |
| August 20, 2025 | +11.7% | −0.7% | +18.4% | −0.9% |
| May 15, 2025 | +1.9% | +1.1% | +0.9% | −45.8% |
Fundamentals
Where the revenue comes from
| Line of business | Revenue | Share | YoY |
|---|---|---|---|
| Broadcasting | $153M | 81.0% | ▲ 17.3% |
| Digital | $35.9M | 19.0% | ▼ 10.9% |
| Line of business | Revenue | Share | YoY |
|---|---|---|---|
| Services | $182M | 96.0% | ▲ 10.3% |
| Advertising (part of Services) | $120M | 66.1% | ▲ 10.2% |
| Affiliate Fee (part of Services) | $30.6M | 16.8% | ▲ 14.9% |
| Subscriptions (part of Services) | $27.5M | 15.1% | ▲ 2.3% |
| Other services (part of Services) | $3.6M | 2.0% | ▲ 53.9% |
| Products | $7.3M | 3.8% | ▲ 20.7% |
| Shipping and Handling | $300,000 | 0.2% | 0.0% |
From Newsmax Inc.'s 10-K filed March 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
Who owns it
Funds buying and selling- Reported value
- $305M
- Institutions reporting
- 230
- Shares held vs prior quarter
- ▲ 13.6%
- Positions opened / closed
- 38 / 27
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Greenwich Wealth Management LLC | $189M | 22.8M | 61.9% | 0.0% |
| Blackrock, Inc. | $23.4M | 2.8M | 7.7% | ▲ 11.5% |
| Vanguard Capital Management LLC | $12.1M | 1.5M | 4.0% | New |
| AQR Capital Management LLC | $11.1M | 1.3M | 3.6% | ▲ 210.7% |
| State Street Corp | $6.4M | 775K | 2.1% | ▲ 14.3% |
| Geode Capital Management, LLC | $5.3M | 640K | 1.7% | ▲ 9.1% |
| Goldman Sachs Group Inc | $4.5M | 549K | 1.5% | ▼ 45.0% |
| Vanguard Portfolio Management LLC | $4M | 488K | 1.3% | ▲ 78.7% |
| HRT Financial LP | $3.3M | 395K | 1.1% | New |
| Citadel Advisors LLC | $3M | 366K | 1.0% | ▲ 122.6% |
| Millennium Management LLC | $2.5M | 307K | 0.8% | New |
| Northern Trust Corp | $2.4M | 286K | 0.8% | ▲ 13.8% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Newsmax Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.
Insider trading activity
Full insider history and chart Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $6.2M 13 trades by 1 insider · 0% under pre-set plans
Net ▼ $6.2M net selling
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Conyers Investments Llc 10% owner | September 25, 2026 | Sell | 2,191 | $11.05 | $24,211 |
| Conyers Investments Llc 10% owner | September 24, 2026 | Sell | 441 | $11.02 | $4,860 |
| Conyers Investments Llc 10% owner | September 23, 2026 | Sell | 350 | $11.03 | $3,860 |
| Conyers Investments Llc 10% owner | September 22, 2026 | Sell | 22,000 | $11.07 | $243,540 |
| Conyers Investments Llc 10% owner | September 21, 2026 | Sell | 14,251 | $11.02 | $157,046 |
| Conyers Investments Llc 10% owner | September 15, 2026 | Sell | 49,588 | $11.15 | $552,906 |
| Conyers Investments Llc 10% owner | September 14, 2026 | Sell | 282,063 | $11.55 | $3.3M |
| Conyers Investments Llc 10% owner | September 11, 2026 | Sell | 289 | $11.70 | $3,375 |
| Conyers Investments Llc 10% owner | September 10, 2026 | Sell | 24,448 | $11.03 | $269,661 |
| Conyers Investments Llc 10% owner | September 3, 2026 | Sell | 49,600 | $11.07 | $549,072 |
| Conyers Investments Llc 10% owner | September 2, 2026 | Sell | 53,500 | $11.03 | $590,105 |
| Conyers Investments Llc 10% owner | August 28, 2026 | Sell | 13,350 | $11.04 | $147,384 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Results announcements
Next expected around November 12, 2026 estimated from the company's past filing pattern, not announced
- August 13, 2026
- May 14, 2026
- March 26, 2026
- November 13, 2025
- August 20, 2025
- May 15, 2025
Recent SEC filings
- 10-Q Quarterly report
- 8-K Current report
- 8-K Current report
- 10-Q Quarterly report
- 8-K Current report
- DEF 14A Proxy statement
- 10-K Annual report
- 8-K Current report
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
Newsmax Inc. in brief
- What does Newsmax Inc. do?
- Newsmax Inc. is a US-listed company in the broadcasting industry. Its financial year ends in December.
- What is Newsmax Inc.'s stock ticker?
- Newsmax Inc. trades under the ticker NMAX on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
- Who are Newsmax Inc.'s largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Greenwich Wealth Management LLC, Blackrock, Inc. and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- Are insiders buying or selling Newsmax Inc. stock?
- Over the last 12 months, Newsmax Inc.'s directors and officers reported 0 open-market purchases and 13 sales on Form 4. The insider trading page charts every trade.
- When is Newsmax Inc.'s next earnings date?
- Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Newsmax Inc. announces its own schedule.
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