Wealthquest Corp Purchases Shares of 175,658 Trump Media & Technology Group Corp. (NASDAQ:DJT)

Wealthquest Corp acquired a new stake in Trump Media & Technology Group Corp. (NASDAQ:DJT - Free Report) in 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. Trump Media & Technology Group comprises approximately 0.3% of Wealthquest Corp's investment portfolio, making the stock its 21st biggest position. Wealthquest Corp owned about 0.08% of Trump Media & Technology Group as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GeoWealth Management LLC raised its stake in Trump Media & Technology Group by 41,550.0% in the fourth quarter. GeoWealth Management LLC now owns 833 shares of the company's stock valued at $28,000 after buying an additional 831 shares during the period. Glass Jacobson Investment Advisors llc increased its holdings in Trump Media & Technology Group by 350.5% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 901 shares of the company's stock valued at $31,000 after buying an additional 701 shares during the period. AlphaQuest LLC increased its stake in Trump Media & Technology Group by 140.7% in the fourth quarter. AlphaQuest LLC now owns 1,165 shares of the company's stock valued at $40,000 after acquiring an additional 681 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Trump Media & Technology Group by 85.1% during the 4th quarter. Russell Investments Group Ltd. now owns 1,220 shares of the company's stock worth $42,000 after buying an additional 561 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Trump Media & Technology Group by 93.8% in the 1st quarter. Parallel Advisors LLC now owns 2,391 shares of the company's stock valued at $47,000 after purchasing an additional 1,157 shares during the last quarter. 4.29% of the stock is currently owned by institutional investors and hedge funds.

Trump Media & Technology Group Stock Performance

Shares of Trump Media & Technology Group stock traded up $0.08 during trading hours on Thursday, reaching $17.82. The company's stock had a trading volume of 8,612,694 shares, compared to its average volume of 16,315,851. The company has a quick ratio of 38.41, a current ratio of 38.41 and a debt-to-equity ratio of 0.01. The stock's fifty day simple moving average is $22.74 and its two-hundred day simple moving average is $26.42. Trump Media & Technology Group Corp. has a one year low of $11.75 and a one year high of $54.68.

Trump Media & Technology Group (NASDAQ:DJT - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.14) earnings per share for the quarter. The company had revenue of $821.20 million for the quarter. Trump Media & Technology Group had a negative net margin of 2,861.60% 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 buyback $400.00 million in shares. This buyback authorization allows the company to purchase up to 10.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, Director Eric Swider sold 3,000 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $26.65, for a total value of $79,950.00. Following the completion of the sale, the director now directly owns 25,989 shares of the company's stock, valued at approximately $692,606.85. This trade represents a 10.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Vladimir Novachki sold 17,823 shares of the company's stock in a transaction that occurred 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 sale, the chief technology officer now owns 511,940 shares in the company, valued at $13,545,932.40. The trade was a 3.36% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,806 shares of company stock worth $5,062,725. Corporate insiders own 53.00% of the company's stock.

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.