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 trading hands.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen cut Trump Media & Technology Group from a "hold" rating to a "sell" rating in a report on Friday, June 6th.
View Our Latest Stock Analysis on Trump Media & Technology Group
Trump Media & Technology Group Stock Performance
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 firm's 50-day moving average is $21.28 and its 200 day moving average is $24.97.
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. The business 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 has authorized a share repurchase plan 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 plans are often a sign that the company's board believes its stock is undervalued.
Insider Activity
In other Trump Media & Technology Group news, CEO Devin G. Nunes sold 59,483 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $26.46, for a total transaction of $1,573,920.18. Following the sale, the chief executive officer owned 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,533,387.80. Following the completion of the transaction, the general counsel directly owned 239,503 shares of the company's stock, valued at approximately $6,332,459.32. This trade represents a 19.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,806 shares of company stock worth $5,062,725. 53.00% of the stock is owned by insiders.
Institutional Trading of Trump Media & Technology Group
Large investors have recently made changes to their positions in the company. GeoWealth Management LLC grew its holdings in shares of Trump Media & Technology Group by 41,550.0% during 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 last quarter. Glass Jacobson Investment Advisors llc lifted its position 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 acquiring an additional 701 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Trump Media & Technology Group in the 1st quarter valued at about $39,000. AlphaQuest LLC boosted its stake in Trump Media & Technology Group by 140.7% during 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 during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in 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 purchasing an additional 561 shares in the last quarter. 4.29% of the stock is currently owned by institutional investors and hedge funds.
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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