Algert Global LLC Boosts Stock Position in Trump Media & Technology Group Corp. $DJT

Key Points

• Algert Global LLC increased its stake in Trump Media & Technology Group Corp. by 105.7% during the 1st quarter, bringing its total investment to $1.10 million with 56,293 shares owned.
• Director Eric Swider sold 8,500 shares at an average price of $21.41, decreasing his total position by 32.71% to approximately $374,439.49.
• Trump Media & Technology Group has announced a $400 million stock repurchase plan, signifying potential leadership confidence in the company's undervalued shares.

Algert Global LLC boosted its stake in Trump Media & Technology Group Corp. (NASDAQ:DJT - Free Report) by 105.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,293 shares of the company's stock after purchasing an additional 28,930 shares during the period. Algert Global LLC's holdings in Trump Media & Technology Group were worth $1,100,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in shares of Trump Media & Technology Group by 85.1% in the fourth quarter. Russell Investments Group Ltd. now owns 1,220 shares of the company's stock worth $42,000 after acquiring an additional 561 shares during the period. Raymond James Financial Inc. purchased a new position in Trump Media & Technology Group in the fourth quarter worth about $950,000. Mariner LLC grew its stake in shares of Trump Media & Technology Group by 24.4% during the 4th quarter. Mariner LLC now owns 38,431 shares of the company's stock valued at $1,310,000 after purchasing an additional 7,546 shares during the period. GeoWealth Management LLC increased its holdings in Trump Media & Technology Group by 41,550.0% during the fourth quarter. GeoWealth Management LLC now owns 833 shares of the company's stock valued at $28,000 after buying an additional 831 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Trump Media & Technology Group by 11.8% in the 4th quarter. First Trust Advisors LP now owns 37,587 shares of the company's stock worth $1,282,000 after purchasing an additional 3,972 shares during the period. 4.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Trump Media & Technology Group from a "hold" rating to a "sell" rating in a research note on Friday, June 6th.

Trump Media & Technology Group Price Performance

Shares of Trump Media & Technology Group stock traded down $0.03 on Thursday, hitting $17.89. 2,027,618 shares of the company traded hands, compared to its average volume of 7,531,981. Trump Media & Technology Group Corp. has a 52 week low of $11.75 and a 52 week high of $54.68. The business has a 50-day simple moving average of $18.09 and a 200 day simple moving average of $21.16. The company has a debt-to-equity ratio of 0.41, a quick ratio of 132.60 and a current ratio of 132.60. The stock has a market capitalization of $4.96 billion, a P/E ratio of -36.46 and a beta of 4.68.

Trump Media & Technology Group (NASDAQ:DJT - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $0.88 million for the quarter. Trump Media & Technology Group had a negative return on equity of 8.86% and a negative net margin of 2,922.66%.

Trump Media & Technology Group declared that its Board of Directors has approved a share repurchase plan on Monday, June 23rd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the company to repurchase up to 10.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Trump Media & Technology Group

In other news, Director Eric Swider sold 8,500 shares of Trump Media & Technology Group stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $21.41, for a total value of $181,985.00. Following the sale, the director directly owned 17,489 shares of the company's stock, valued at approximately $374,439.49. The trade was a 32.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 53.00% of the stock is currently owned by insiders.

Trump Media & Technology Group Profile

Trump Media & Technology Group Corp. engages in operating social media and in the technology business. Its brands include TRUTH Social, TMTG+ and TMTG News. The company was founded on March 28, 2024 and is headquartered in Sarasota, FL.