217,258 Shares in Trump Media & Technology Group Corp. $DJT Bought by Nuveen LLC

Key Points

• Nuveen LLC has acquired 217,258 shares of Trump Media & Technology Group Corp., valued at approximately $4.25 million, during the first quarter of 2023, representing about 0.10% ownership of the company.
• A stock buyback program worth $400 million has been initiated, allowing the company to repurchase up to 10.2% of its shares, signaling confidence in its undervalued stock.
• Shares of Trump Media & Technology Group Corp. have shown significant volatility, with a 52-week range of $11.75 to $54.68, and the company reported a negative net margin of 2,922.66% for its last quarter.

Nuveen LLC purchased a new position in Trump Media & Technology Group Corp. (NASDAQ:DJT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 217,258 shares of the company's stock, valued at approximately $4,245,000. Nuveen LLC owned about 0.10% of Trump Media & Technology Group at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Swiss National Bank lifted its position in Trump Media & Technology Group by 6.7% during the first quarter. Swiss National Bank now owns 168,100 shares of the company's stock worth $3,285,000 after buying an additional 10,600 shares in the last quarter. Deutsche Bank AG lifted its position in Trump Media & Technology Group by 16.7% during the first quarter. Deutsche Bank AG now owns 4,038 shares of the company's stock worth $79,000 after buying an additional 579 shares in the last quarter. Vanguard Group Inc. lifted its position in Trump Media & Technology Group by 2.6% during the first quarter. Vanguard Group Inc. now owns 9,244,587 shares of the company's stock worth $180,639,000 after buying an additional 237,668 shares in the last quarter. Capstone Financial Advisors Inc. lifted its position in Trump Media & Technology Group by 42.0% during the first quarter. Capstone Financial Advisors Inc. now owns 67,600 shares of the company's stock worth $1,321,000 after buying an additional 20,000 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Trump Media & Technology Group by 49.9% during the first quarter. PNC Financial Services Group Inc. now owns 5,875 shares of the company's stock worth $115,000 after buying an additional 1,957 shares in the last quarter. Hedge funds and other institutional investors own 4.29% of the company's stock.

Trump Media & Technology Group Trading Down 2.3%

NASDAQ:DJT traded down $0.42 on Friday, reaching $17.53. The company's stock had a trading volume of 4,402,982 shares, compared to its average volume of 6,523,601. The company has a debt-to-equity ratio of 0.41, a current ratio of 132.60 and a quick ratio of 132.60. Trump Media & Technology Group Corp. has a 12-month low of $11.75 and a 12-month high of $54.68. The stock has a 50 day moving average price of $18.08 and a 200 day moving average price of $21.07.

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

Trump Media & Technology Group announced that its board has initiated a stock buyback plan on Monday, June 23rd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 10.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Eric Swider sold 8,500 shares of the business's stock in a transaction on 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 owned 17,489 shares in the company, valued at approximately $374,439.49. The trade was a 32.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 53.00% of the company's stock.

Trump Media & Technology Group Company 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.