Wealthquest Corp Acquires Shares of 175,658 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 shares of Trump Media & Technology Group Corp. (NASDAQ:DJT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Trump Media & Technology Group by 180.3% during the 4th quarter. Vanguard Group Inc. now owns 9,006,919 shares of the company's stock worth $307,136,000 after purchasing an additional 5,793,934 shares during the period. Melqart Asset Management UK Ltd bought a new stake in shares of Trump Media & Technology Group during the 4th quarter worth $18,725,000. Invesco Ltd. raised its stake in shares of Trump Media & Technology Group by 785.1% during the 4th quarter. Invesco Ltd. now owns 512,613 shares of the company's stock worth $17,480,000 after purchasing an additional 454,699 shares during the period. Geode Capital Management LLC raised its stake in Trump Media & Technology Group by 35.2% in the 4th quarter. Geode Capital Management LLC now owns 1,484,255 shares of the company's stock valued at $50,630,000 after acquiring an additional 386,227 shares during the period. Finally, Northern Trust Corp raised its stake in Trump Media & Technology Group by 50.0% in the 4th quarter. Northern Trust Corp now owns 417,243 shares of the company's stock valued at $14,228,000 after acquiring an additional 139,145 shares during the period. Institutional investors own 4.29% of the company's stock.

Trump Media & Technology Group Price Performance

DJT traded down $0.03 during midday trading on Monday, hitting $16.89. The stock had a trading volume of 4,700,015 shares, compared to its average volume of 7,662,504. The company has a debt-to-equity ratio of 0.01, a quick ratio of 38.41 and a current ratio of 38.41. Trump Media & Technology Group Corp. has a 1 year low of $11.75 and a 1 year high of $54.68. The business has a fifty day moving average of $19.34 and a 200 day moving average of $22.94. The company has a market cap of $3.73 billion, a P/E ratio of -34.47 and a beta of 4.69.

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. Trump Media & Technology Group had a negative return on equity of 12.43% and a negative net margin of 2,922.66%. The firm had revenue of $0.88 million during the quarter.

Trump Media & Technology Group declared that its Board of Directors has authorized a share repurchase plan on Monday, June 23rd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

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

Insider Activity

In related news, CEO Devin G. Nunes sold 59,483 shares of Trump Media & Technology Group stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $26.46, for a total transaction of $1,573,920.18. Following the sale, the chief executive officer owned 1,148,705 shares of the company's stock, valued at approximately $30,394,734.30. This trade represents a 4.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Swider sold 8,500 shares of Trump Media & Technology Group stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $21.41, for a total value of $181,985.00. Following the sale, the director directly owned 17,489 shares in the company, valued at $374,439.49. This trade represents a 32.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,806 shares of company stock worth $5,062,725. 53.00% of the stock is currently owned by corporate insiders.

Trump Media & Technology Group 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.