Algert Global LLC Acquires 28,930 Shares of Trump Media & Technology Group Corp. $DJT

Algert Global LLC boosted its holdings in shares of Trump Media & Technology Group Corp. (NASDAQ:DJT) by 105.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 56,293 shares of the company’s stock after purchasing an additional 28,930 shares during the quarter. Algert Global LLC’s holdings in Trump Media & Technology Group were worth $1,100,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in DJT. Russell Investments Group Ltd. boosted its stake 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 valued at $42,000 after purchasing an additional 561 shares during the period. Raymond James Financial Inc. bought a new stake in Trump Media & Technology Group during the 4th quarter valued at approximately $950,000. Mariner LLC boosted its stake in Trump Media & Technology Group by 24.4% during the 4th quarter. Mariner LLC now owns 38,431 shares of the company’s stock valued at $1,310,000 after purchasing an additional 7,546 shares during the period. GeoWealth Management LLC boosted its stake in 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 purchasing an additional 831 shares during the period. Finally, First Trust Advisors LP boosted its stake in Trump Media & Technology Group by 11.8% during the 4th quarter. First Trust Advisors LP now owns 37,587 shares of the company’s stock valued at $1,282,000 after purchasing an additional 3,972 shares during the period. Institutional investors own 4.29% of the company’s stock.

Insider Activity at Trump Media & Technology Group

In related news, Director Eric Swider sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $21.41, for a total transaction of $181,985.00. Following the completion of the transaction, the director owned 17,489 shares in the company, valued at $374,439.49. This trade represents a 32.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 53.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Trump Media & Technology Group Price Performance

Shares of DJT stock opened at $17.87 on Friday. The stock has a 50 day moving average of $18.14 and a two-hundred day moving average of $21.44. The company has a current ratio of 132.60, a quick ratio of 132.60 and a debt-to-equity ratio of 0.41. Trump Media & Technology Group Corp. has a 12 month low of $11.75 and a 12 month high of $54.68. The company has a market capitalization of $4.95 billion, a P/E ratio of -36.47 and a beta of 4.68.

Trump Media & Technology Group (NASDAQ:DJT) last announced its quarterly earnings data on Friday, August 1st. The company reported ($0.08) EPS for the quarter. The firm had revenue of $0.88 million during the quarter. Trump Media & Technology Group had a negative return on equity of 8.86% and a negative net margin of 2,922.66%.

Trump Media & Technology Group declared that its board has approved a stock buyback program on Monday, June 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the company to reacquire up to 10.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Trump Media & Technology Group 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.