Teacher Retirement System of Texas Takes Position in Trump Media & Technology Group Corp. (NASDAQ:DJT)

Teacher Retirement System of Texas acquired a new position in shares of Trump Media & Technology Group Corp. (NASDAQ:DJT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,623 shares of the company’s stock, valued at approximately $247,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Summit Trail Advisors LLC acquired a new position in Trump Media & Technology Group during the first quarter worth approximately $303,000. Vontobel Holding Ltd. increased its position in Trump Media & Technology Group by 64.0% during the first quarter. Vontobel Holding Ltd. now owns 27,609 shares of the company’s stock worth $539,000 after purchasing an additional 10,776 shares during the last quarter. Amalgamated Bank increased its position in Trump Media & Technology Group by 15.6% during the first quarter. Amalgamated Bank now owns 4,821 shares of the company’s stock worth $94,000 after purchasing an additional 651 shares during the last quarter. KBC Group NV increased its position in Trump Media & Technology Group by 30.6% during the first quarter. KBC Group NV now owns 4,448 shares of the company’s stock worth $87,000 after purchasing an additional 1,041 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its position in Trump Media & Technology Group by 21.6% during the first quarter. Golden State Wealth Management LLC now owns 2,308 shares of the company’s stock worth $45,000 after purchasing an additional 410 shares during the last quarter. Hedge funds and other institutional investors own 4.29% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Phillip Juhan sold 45,005 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $27.15, for a total transaction of $1,221,885.75. Following the sale, the chief financial officer owned 175,572 shares in the company, valued at approximately $4,766,779.80. This represents a 20.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Scott Glabe sold 57,995 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were 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 owned 239,503 shares in the company, valued at approximately $6,332,459.32. This represents a 19.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,806 shares of company stock valued at $5,062,725 in the last ninety days. 53.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Trump Media & Technology Group Trading Down 2.6%

Shares of NASDAQ:DJT opened at $18.67 on Friday. The firm has a fifty day moving average of $20.69 and a two-hundred day moving average of $24.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 38.41 and a quick ratio of 38.41. Trump Media & Technology Group Corp. has a 12-month low of $11.75 and a 12-month high of $54.68.

Trump Media & Technology Group (NASDAQ:DJT) last announced its quarterly earnings results on Friday, May 9th. The company reported ($0.14) EPS for the quarter. The firm had revenue of $821.20 million during 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 declared that its Board of Directors has initiated a share repurchase program on Monday, June 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the company to reacquire up to 10.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership 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.