Trump Media & Technology Group Corp. (NASDAQ:DJT - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $18.73, but opened at $19.49. Trump Media & Technology Group shares last traded at $19.09, with a volume of 3,090,517 shares traded.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen cut Trump Media & Technology Group from a "hold" rating to a "sell" rating in a research report on Friday, June 6th.
Read Our Latest Stock Report on DJT
Trump Media & Technology Group Stock Up 1.7%
The company has a debt-to-equity ratio of 0.01, a current ratio of 38.41 and a quick ratio of 38.41. The stock has a 50-day moving average price of $21.76 and a two-hundred day moving average price of $25.29.
Trump Media & Technology Group (NASDAQ:DJT - Get Free Report) last issued its quarterly 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 firm had revenue of $821.20 million for the quarter.
Trump Media & Technology Group announced that its Board of Directors has approved a share buyback program on Monday, June 23rd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the company to reacquire up to 10.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its stock is undervalued.
Insider Activity at Trump Media & Technology Group
In other Trump Media & Technology Group news, General Counsel Scott Glabe sold 57,995 shares of Trump Media & Technology Group stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $26.44, for a total transaction of $1,533,387.80. Following the completion of the sale, the general counsel owned 239,503 shares of the company's stock, valued at approximately $6,332,459.32. The trade was a 19.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Vladimir Novachki sold 17,823 shares of Trump Media & Technology Group stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $26.46, for a total value of $471,596.58. Following the sale, the chief technology officer directly owned 511,940 shares of the company's stock, valued at approximately $13,545,932.40. This represents a 3.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,806 shares of company stock worth $5,062,725 in the last quarter. 53.00% of the stock is owned by insiders.
Hedge Funds Weigh In On Trump Media & Technology Group
Institutional investors have recently modified their holdings of the stock. GeoWealth Management LLC raised its stake in shares of Trump Media & Technology Group by 41,550.0% during the 4th 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 last quarter. Glass Jacobson Investment Advisors llc increased its stake in shares of 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 purchasing an additional 701 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Trump Media & Technology Group in the 1st quarter valued at about $39,000. AlphaQuest LLC increased its stake in shares of Trump Media & Technology Group by 140.7% in the 4th quarter. AlphaQuest LLC now owns 1,165 shares of the company's stock valued at $40,000 after purchasing an additional 681 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Trump Media & Technology Group by 85.1% in the 4th quarter. Russell Investments Group Ltd. now owns 1,220 shares of the company's stock valued at $42,000 after purchasing an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 4.29% 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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