Trump Media & Technology Group (NASDAQ:DJT – Get Free Report) announced that its Board of Directors has authorized a share buyback program on Monday, June 23rd, RTT News reports. The company plans to repurchase $400.00 million in shares. This repurchase authorization permits the company to repurchase up to 10.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Wall Street Analyst Weigh In
Separately, Wall Street Zen lowered shares of Trump Media & Technology Group from a “hold” rating to a “sell” rating in a research report on Friday, June 6th.
Get Our Latest Analysis on DJT
Trump Media & Technology Group Stock Performance
Trump Media & Technology Group (NASDAQ:DJT – Get Free Report) last posted 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%.
Insider Activity at Trump Media & Technology Group
In other news, CEO Devin G. Nunes sold 59,483 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $26.46, for a total value of $1,573,920.18. Following the completion of the transaction, the chief executive officer now directly owns 1,148,705 shares of the company’s stock, valued at approximately $30,394,734.30. This represents a 4.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eric Swider sold 8,500 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $21.41, for a total value of $181,985.00. Following the completion of the transaction, the director now directly owns 17,489 shares of the company’s stock, valued at approximately $374,439.49. The trade was a 32.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,806 shares of company stock worth $5,062,725. 53.00% of the stock is owned by corporate insiders.
About Trump Media & Technology Group
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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