Shares of Trump Media & Technology Group Corp. (NASDAQ:DJT - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $17.83, but opened at $18.59. Trump Media & Technology Group shares last traded at $18.36, with a volume of 5,206,628 shares.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen downgraded Trump Media & Technology Group from a "hold" rating to a "sell" rating in a report on Friday, June 6th.
Read Our Latest Analysis on DJT
Trump Media & Technology Group Price Performance
The firm's fifty day moving average price is $22.74 and its two-hundred day moving average price is $26.42. The company has a current ratio of 38.41, a quick ratio of 38.41 and a debt-to-equity ratio of 0.01.
Trump Media & Technology Group (NASDAQ:DJT - Get Free Report) last announced its 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 has initiated a share buyback plan on Monday, June 23rd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the company to repurchase up to 10.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.
Insider Activity
In related news, CTO Vladimir Novachki sold 17,823 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were 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 directly owns 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eric Swider sold 3,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $26.65, for a total transaction of $79,950.00. Following the sale, the director now owns 25,989 shares in the company, valued at $692,606.85. The trade was a 10.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,806 shares of company stock valued at $5,062,725 in the last quarter. 53.00% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC boosted its position in shares of Trump Media & Technology Group by 5.5% during the first quarter. Voya Investment Management LLC now owns 25,438 shares of the company's stock worth $497,000 after acquiring an additional 1,330 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Trump Media & Technology Group by 20.7% during 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 valued at $4,264,000 after buying an additional 37,367 shares in the last quarter. Optimize Financial Inc raised its holdings in shares of Trump Media & Technology Group by 17.7% during the 1st quarter. Optimize Financial Inc now owns 64,346 shares of the company's stock worth $1,257,000 after acquiring an additional 9,670 shares in the last quarter. NewEdge Advisors LLC increased its position in Trump Media & Technology Group by 31.9% in the first quarter. NewEdge Advisors LLC now owns 4,957 shares of the company's stock worth $97,000 after purchasing an additional 1,200 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Trump Media & Technology Group during the first quarter valued at $940,000. 4.29% of the stock is currently owned by institutional investors.
Trump Media & Technology Group Company Profile
(
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.
See Also
Before you consider Trump Media & Technology Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Trump Media & Technology Group wasn't on the list.
While Trump Media & Technology Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
