Trump Media & Technology Group Corp. (NASDAQ:DJT) Shares Purchased by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in Trump Media & Technology Group by 26.1%, owning approximately 0.07% of the company valued at $3,024,000.
• Trump Media & Technology Group has recently authorized a $400 million stock buyback program, indicating a belief by its Board of Directors that the shares are currently undervalued.
• Shares of Trump Media & Technology Group have seen a 3.0% decrease in trading, with the stock currently priced around $16.39 after a 52-week range of $11.75 to $54.68.

Cetera Investment Advisers increased its position in shares of Trump Media & Technology Group Corp. (NASDAQ:DJT - Free Report) by 26.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,760 shares of the company's stock after acquiring an additional 32,022 shares during the period. Cetera Investment Advisers owned about 0.07% of Trump Media & Technology Group worth $3,024,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. LPL Financial LLC increased its holdings in Trump Media & Technology Group by 9.8% during the 4th quarter. LPL Financial LLC now owns 129,212 shares of the company's stock worth $4,406,000 after purchasing an additional 11,574 shares during the period. JPMorgan Chase & Co. increased its holdings in Trump Media & Technology Group by 46.0% during the 4th quarter. JPMorgan Chase & Co. now owns 64,452 shares of the company's stock worth $2,198,000 after purchasing an additional 20,292 shares during the period. Pictet Asset Management Holding SA purchased a new stake in Trump Media & Technology Group during the 4th quarter worth about $315,000. Wellington Management Group LLP purchased a new stake in Trump Media & Technology Group during the 4th quarter worth about $1,498,000. Finally, Alliancebernstein L.P. increased its holdings in Trump Media & Technology Group by 20.1% during the 4th quarter. Alliancebernstein L.P. now owns 29,286 shares of the company's stock worth $999,000 after purchasing an additional 4,896 shares during the period. Institutional investors and hedge funds own 4.29% of the company's stock.

Trump Media & Technology Group Trading Down 3.0%

NASDAQ:DJT opened at $16.39 on Wednesday. The stock's 50 day moving average price is $19.03 and its 200 day moving average price is $22.73. The company has a market capitalization of $3.62 billion, a PE ratio of -33.45 and a beta of 4.68. The company has a quick ratio of 38.41, a current ratio of 132.60 and a debt-to-equity ratio of 0.41. Trump Media & Technology Group Corp. has a 52-week low of $11.75 and a 52-week high of $54.68.

Trump Media & Technology Group (NASDAQ:DJT - Get Free Report) last announced 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 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 of Directors has authorized a stock buyback program on Monday, June 23rd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the company to buy up to 10.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, CTO Vladimir Novachki sold 17,823 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $26.46, for a total value of $471,596.58. Following the completion of the transaction, the chief technology officer directly owned 511,940 shares of the company's stock, valued at $13,545,932.40. The trade was a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Devin G. Nunes sold 59,483 shares of Trump Media & Technology Group stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $26.46, for a total value of $1,573,920.18. Following the completion of the sale, the chief executive officer directly owned 1,148,705 shares of the company's stock, valued at approximately $30,394,734.30. This represents a 4.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,806 shares of company stock valued at $5,062,725. Company insiders own 53.00% of the company's stock.

Analyst Ratings Changes

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

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.

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