Wealthquest Corp Takes $3.43 Million Position in Trump Media & Technology Group Corp. (NASDAQ:DJT)

Key Points

• Wealthquest Corp acquired 175,658 shares of Trump Media & Technology Group Corp., valued at approximately $3.43 million, representing about 0.08% ownership as of its latest SEC filing.
• CEO Devin G. Nunes and CFO Phillip Juhan sold significant shares of the company on May 14th, indicating insider trading activity with ownership decreases of 4.92% and 20.40%, respectively.
• Analysts at Wall Street Zen downgraded Trump Media & Technology Group from a "hold" to a "sell" rating, reflecting a bearish outlook on the company's stock performance.

Wealthquest Corp acquired a new position in Trump Media & Technology Group Corp. (NASDAQ:DJT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 175,658 shares of the company's stock, valued at approximately $3,432,000. Wealthquest Corp owned 0.08% of Trump Media & Technology Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Trump Media & Technology Group by 180.3% during the fourth quarter. Vanguard Group Inc. now owns 9,006,919 shares of the company's stock worth $307,136,000 after buying an additional 5,793,934 shares in the last quarter. Melqart Asset Management UK Ltd purchased a new stake in Trump Media & Technology Group during the fourth quarter worth $18,725,000. Invesco Ltd. boosted its holdings in Trump Media & Technology Group by 785.1% during the fourth quarter. Invesco Ltd. now owns 512,613 shares of the company's stock worth $17,480,000 after buying an additional 454,699 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Trump Media & Technology Group by 35.2% during the fourth quarter. Geode Capital Management LLC now owns 1,484,255 shares of the company's stock worth $50,630,000 after buying an additional 386,227 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Trump Media & Technology Group by 50.0% during the fourth quarter. Northern Trust Corp now owns 417,243 shares of the company's stock worth $14,228,000 after buying an additional 139,145 shares in the last quarter. Institutional investors and hedge funds own 4.29% of the company's stock.

Analyst Upgrades and Downgrades

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

Trump Media & Technology Group Price Performance

DJT traded down $0.67 during midday trading on Friday, hitting $16.92. 6,837,522 shares of the company traded hands, compared to its average volume of 7,947,862. The company has a current ratio of 38.41, a quick ratio of 38.41 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of -33.18 and a beta of 4.69. 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 $19.34 and a two-hundred day simple moving average of $23.19.

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 company had revenue of $0.88 million for the quarter. Trump Media & Technology Group had a negative net margin of 2,860.82% and a negative return on equity of 14.17%.

Trump Media & Technology Group announced that its Board of Directors has approved a share buyback plan 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 plans are typically a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Trump Media & Technology Group

In other Trump Media & Technology Group news, General Counsel Scott Glabe sold 57,995 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $26.44, for a total transaction of $1,533,387.80. Following the transaction, the general counsel directly owned 239,503 shares of the company's stock, valued at $6,332,459.32. This trade represents a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Devin G. Nunes sold 59,483 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $26.46, for a total transaction of $1,573,920.18. Following the transaction, the chief executive officer directly owned 1,148,705 shares in the company, valued at approximately $30,394,734.30. The trade was a 4.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,806 shares of company stock valued at $5,062,725. 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.