Wealthquest Corp bought a new stake in Trump Media & Technology Group Corp. (NASDAQ:DJT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 175,658 shares of the company's stock, valued at approximately $3,432,000. Trump Media & Technology Group accounts for approximately 0.3% of Wealthquest Corp's investment portfolio, making the stock its 21st largest holding. Wealthquest Corp owned approximately 0.08% of Trump Media & Technology Group at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of DJT. New York State Common Retirement Fund boosted its stake in shares of Trump Media & Technology Group by 80.8% in the fourth quarter. New York State Common Retirement Fund now owns 38,700 shares of the company's stock valued at $1,320,000 after buying an additional 17,300 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Trump Media & Technology Group by 15.2% in the fourth quarter. Amalgamated Bank now owns 4,170 shares of the company's stock valued at $142,000 after buying an additional 550 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Trump Media & Technology Group by 23.7% in the fourth quarter. Rhumbline Advisers now owns 76,976 shares of the company's stock valued at $2,625,000 after buying an additional 14,752 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of Trump Media & Technology Group in the fourth quarter valued at approximately $205,000. Finally, Geode Capital Management LLC boosted its stake in shares of Trump Media & Technology Group by 35.2% in the fourth quarter. Geode Capital Management LLC now owns 1,484,255 shares of the company's stock valued at $50,630,000 after buying an additional 386,227 shares in the last quarter. Institutional investors and hedge funds own 4.29% of the company's stock.
Trump Media & Technology Group Trading Down 2.4%
Shares of Trump Media & Technology Group stock traded down $0.42 during trading on Friday, reaching $17.40. The company's stock had a trading volume of 8,890,165 shares, compared to its average volume of 16,301,304. The business has a 50 day moving average price of $22.56 and a 200-day moving average price of $26.19. The company has a quick ratio of 38.41, a current ratio of 38.41 and a debt-to-equity ratio of 0.01. Trump Media & Technology Group Corp. has a 12-month low of $11.75 and a 12-month high of $54.68.
Trump Media & Technology Group (NASDAQ:DJT - Get Free Report) last posted 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 announced that its Board of Directors has initiated a stock buyback plan on Monday, June 23rd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.
Insiders Place Their Bets
In other news, Director Eric Swider sold 8,500 shares of the company's 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 sale, the director now directly owns 17,489 shares in the company, valued at $374,439.49. This represents a 32.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Phillip Juhan sold 45,005 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $27.15, for a total value of $1,221,885.75. Following the completion of the sale, the chief financial officer now owns 175,572 shares in the company, valued at $4,766,779.80. This represents a 20.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,806 shares of company stock worth $5,062,725. 53.00% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Separately, Wall Street Zen downgraded Trump Media & Technology Group from a "hold" rating to a "sell" rating in a research note on Friday, June 6th.
Read Our Latest Stock Report on DJT
Trump Media & Technology Group Profile
(
Free Report)
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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