Spire Wealth Management Sells 20,940 Shares of Trump Media & Technology Group Corp. (NASDAQ:DJT)

Spire Wealth Management reduced its position in Trump Media & Technology Group Corp. (NASDAQ:DJT - Free Report) by 84.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,990 shares of the company's stock after selling 20,940 shares during the period. Spire Wealth Management's holdings in Trump Media & Technology Group were worth $78,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. IFP Advisors Inc grew its position in Trump Media & Technology Group by 358.5% during the fourth quarter. IFP Advisors Inc now owns 3,118 shares of the company's stock valued at $106,000 after buying an additional 2,438 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Trump Media & Technology Group by 15.2% during the 4th quarter. Bank of New York Mellon Corp now owns 194,374 shares of the company's stock worth $6,628,000 after acquiring an additional 25,685 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Trump Media & Technology Group by 15.2% during the 4th quarter. Amalgamated Bank now owns 4,170 shares of the company's stock worth $142,000 after acquiring an additional 550 shares during the last quarter. US Bancorp DE grew its position in shares of Trump Media & Technology Group by 37.6% during the 4th quarter. US Bancorp DE now owns 6,534 shares of the company's stock valued at $223,000 after acquiring an additional 1,784 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in shares of Trump Media & Technology Group by 113.6% in the 4th quarter. Jones Financial Companies Lllp now owns 2,322 shares of the company's stock worth $79,000 after purchasing an additional 1,235 shares in the last quarter. Institutional investors own 4.29% of the company's stock.

Insider Activity

In other Trump Media & Technology Group news, Director Eric Swider sold 8,500 shares of the 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 completion of the sale, the director owned 17,489 shares in the company, valued at approximately $374,439.49. This represents a 32.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Vladimir Novachki sold 17,823 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $26.46, for a total value of $471,596.58. Following the sale, the chief technology officer directly owned 511,940 shares in the company, valued at approximately $13,545,932.40. This represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,806 shares of company stock worth $5,062,725. 53.00% of the stock is currently owned by insiders.

Trump Media & Technology Group Stock Performance

Shares of DJT stock traded up $0.46 during trading hours on Wednesday, reaching $18.19. 5,760,124 shares of the company traded hands, compared to its average volume of 16,164,013. Trump Media & Technology Group Corp. has a 12-month low of $11.75 and a 12-month high of $54.68. The company has a quick ratio of 38.41, a current ratio of 38.41 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $22.35 and a 200 day moving average price of $25.86.

Trump Media & Technology Group (NASDAQ:DJT - Get Free Report) last released its earnings results on Friday, May 9th. The company reported ($0.14) EPS for the quarter. The firm had revenue of $821.20 million for the quarter. Trump Media & Technology Group had a negative return on equity of 14.17% and a negative net margin of 2,861.60%.

Trump Media & Technology Group declared that its board has authorized a stock buyback program on Monday, June 23rd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the company to repurchase up to 10.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is 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.

About Trump Media & Technology Group

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.