Trump Media & Technology Group (NASDAQ:DJT) Issues Quarterly Earnings Results

Key Points

• Trump Media & Technology Group reported a quarterly earnings loss of ($0.08) per share, with a negative net margin of 2,860.82% and a negative return on equity of 14.17%.
• The company's stock price fell to $16.92, with a significant trading volume of over 6.8 million shares on the day of the earnings release.
• Insiders sold a total of 191,806 shares in the last 90 days, indicating potential concern from management following the earnings announcement.

Trump Media & Technology Group (NASDAQ:DJT - Get Free Report) announced its earnings results on Friday. The company reported ($0.08) earnings per share for the quarter, Zacks reports. The business had revenue of $0.88 million 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%.

Trump Media & Technology Group Stock Down 2.9%

DJT stock traded down $0.50 during midday trading on Tuesday, hitting $16.40. The company's stock had a trading volume of 4,578,492 shares, compared to its average volume of 7,639,525. The stock has a market capitalization of $3.62 billion, a P/E ratio of -33.46 and a beta of 4.68. The company's fifty day moving average price is $19.16 and its 200 day moving average price is $22.78. Trump Media & Technology Group has a twelve month low of $11.75 and a twelve month high of $54.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 38.41 and a quick ratio of 38.41.

Analyst Upgrades and Downgrades

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

Insider Activity at Trump Media & Technology Group

In other Trump Media & Technology Group news, CFO Phillip Juhan sold 45,005 shares of the business's stock in a transaction dated 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 owned 175,572 shares of the company's stock, valued at $4,766,779.80. The trade was a 20.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric Swider sold 8,500 shares of the business'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 transaction, the director directly owned 17,489 shares of the company's stock, valued at $374,439.49. This trade represents a 32.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,806 shares of company stock worth $5,062,725 over the last ninety days. Company insiders own 53.00% of the company's stock.

Hedge Funds Weigh In On Trump Media & Technology Group

Institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Trump Media & Technology Group by 20.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 218,210 shares of the company's stock worth $4,264,000 after buying an additional 37,367 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Trump Media & Technology Group during the first quarter worth about $940,000. Finally, NewEdge Advisors LLC raised its holdings in Trump Media & Technology Group by 31.9% in the 1st quarter. NewEdge Advisors LLC now owns 4,957 shares of the company's stock worth $97,000 after purchasing an additional 1,200 shares in the last quarter. 4.29% of the stock is owned by institutional investors.

Trump Media & Technology Group announced that its Board of Directors has initiated a stock repurchase plan on Monday, June 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

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.