Trump Media & Technology Group (NASDAQ:DJT - Get Free Report) announced that its board has approved a stock buyback plan on Monday, June 23rd, RTT News reports. The company plans to buyback $400.00 million in shares. This buyback authorization permits 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 board believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen lowered Trump Media & Technology Group from a "hold" rating to a "sell" rating in a research report on Friday, June 6th.
View Our Latest Stock Analysis on DJT
Trump Media & Technology Group Price Performance
Shares of NASDAQ DJT traded up $0.06 during mid-day trading on Monday, hitting $17.89. 14,353,179 shares of the company traded hands, compared to its average volume of 16,425,713. Trump Media & Technology Group has a 1 year low of $11.75 and a 1 year high of $54.68. 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 business has a 50 day moving average of $22.81 and a two-hundred day moving average of $26.54.
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. Trump Media & Technology Group had a negative return on equity of 14.17% and a negative net margin of 2,861.60%. The company had revenue of $821.20 million for the quarter.
Insider Transactions at Trump Media & Technology Group
In other news, CEO Devin G. Nunes sold 59,483 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 $1,573,920.18. Following the transaction, the chief executive officer now owns 1,148,705 shares of the company's stock, valued at approximately $30,394,734.30. This represents a 4.92% decrease in their ownership of the stock. The transaction 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 the company's 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 completion of the transaction, the director now directly owns 17,489 shares in the company, valued at $374,439.49. The trade was a 32.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,806 shares of company stock worth $5,062,725 in the last three months. Insiders own 53.00% of the company's stock.
About Trump Media & Technology Group
(
Get 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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