Vanguard Group Inc. Has $180.64 Million Holdings in Trump Media & Technology Group Corp. $DJT

Key Points

• Vanguard Group Inc. increased its stake in Trump Media & Technology Group by 2.6%, acquiring an additional 237,668 shares, bringing its total holdings to approximately 9.24 million shares valued at $180.6 million.
• In a recent development, the company's stock was dropped from a "hold" rating to a "sell" rating by Wall Street Zen, showcasing a shift in market sentiment.
• Trump Media & Technology Group authorized a stock repurchase program for up to $400 million, indicating management's belief that the company's shares are undervalued.

Vanguard Group Inc. raised its holdings in shares of Trump Media & Technology Group Corp. (NASDAQ:DJT - Free Report) by 2.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,244,587 shares of the company's stock after purchasing an additional 237,668 shares during the quarter. Vanguard Group Inc. owned approximately 4.20% of Trump Media & Technology Group worth $180,639,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Capstone Financial Advisors Inc. lifted its holdings in Trump Media & Technology Group by 42.0% during the 1st quarter. Capstone Financial Advisors Inc. now owns 67,600 shares of the company's stock valued at $1,321,000 after purchasing an additional 20,000 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of 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. Wealthquest Corp acquired a new stake in shares of Trump Media & Technology Group during the first quarter worth $3,432,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Trump Media & Technology Group during the first quarter worth $95,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Trump Media & Technology Group during the first quarter worth $39,000. Institutional investors and hedge funds own 4.29% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, Director Eric Swider sold 8,500 shares of the business's 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 completion of the transaction, the director owned 17,489 shares of the company's stock, valued at $374,439.49. The trade was a 32.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 53.00% of the stock is currently owned by company insiders.

Trump Media & Technology Group Stock Performance

Shares of DJT traded up $0.49 during midday trading on Friday, reaching $17.87. 5,728,895 shares of the stock were exchanged, compared to its average volume of 6,035,899. Trump Media & Technology Group Corp. has a twelve month low of $11.75 and a twelve month high of $54.68. The company has a quick ratio of 132.60, a current ratio of 132.60 and a debt-to-equity ratio of 0.41. The company has a market cap of $4.95 billion, a P/E ratio of -36.47 and a beta of 4.68. The stock's 50 day simple moving average is $18.14 and its 200 day simple moving average is $21.38.

Trump Media & Technology Group (NASDAQ:DJT - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported ($0.08) EPS for the quarter. The company had revenue of $0.88 million during 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 has approved a share buyback plan 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 plans are typically an indication that the company's leadership believes its shares are undervalued.

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.