Bank of America Corp DE Buys 178,303 Shares of Trump Media & Technology Group Corp. $DJT

Key Points

• Bank of America purchased 178,303 shares of Trump Media & Technology Group in the second quarter, valued at approximately $1.38 million and representing about 0.06% of the company.
• Several other institutional investors also initiated or increased positions, but institutional and hedge-fund ownership remains relatively low at 4.29%.
• DJT shares opened at $8.79, with a $2.44 billion market capitalization, while analysts maintain a bearish outlook: the stock has a consensus rating of “Sell.”

Bank of America Corp DE purchased a new stake in shares of Trump Media & Technology Group Corp. (NASDAQ:DJT - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 178,303 shares of the company's stock, valued at approximately $1,380,000. Bank of America Corp DE owned about 0.06% of Trump Media & Technology Group at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Jupiter Topco LLC acquired a new position in shares of Trump Media & Technology Group in the 2nd quarter valued at about $549,000. The Manufacturers Life Insurance Company lifted its stake in Trump Media & Technology Group by 107.6% in the second quarter. The Manufacturers Life Insurance Company now owns 73,679 shares of the company's stock valued at $570,000 after buying an additional 38,193 shares during the period. Allstate Corp acquired a new position in Trump Media & Technology Group in the second quarter valued at approximately $406,000. Strategic Wealth Partners Ltd. lifted its stake in Trump Media & Technology Group by 60.1% in the second quarter. Strategic Wealth Partners Ltd. now owns 6,660 shares of the company's stock valued at $52,000 after buying an additional 2,500 shares during the period. Finally, Ieq Capital LLC boosted its holdings in shares of Trump Media & Technology Group by 16.3% during the 2nd quarter. Ieq Capital LLC now owns 78,750 shares of the company's stock worth $610,000 after buying an additional 11,056 shares in the last quarter. 4.29% of the stock is currently owned by institutional investors and hedge funds.

Trump Media & Technology Group Stock Performance

DJT stock opened at $8.79 on Friday. The stock's 50 day simple moving average is $9.15 and its 200 day simple moving average is $8.94. The company has a market cap of $2.44 billion, a P/E ratio of -1.79 and a beta of 4.07. Trump Media & Technology Group Corp. has a fifty-two week low of $6.96 and a fifty-two week high of $17.97.

Analysts Set New Price Targets

Several analysts have recently weighed in on DJT shares. Weiss Ratings lowered shares of Trump Media & Technology Group from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, September 2nd. Wall Street Zen lowered shares of Trump Media & Technology Group to a "strong sell" rating in a research note on Saturday, September 5th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of "Sell".

Trump Media & Technology Group Profile

Trump Media & Technology Group Corp. is a technology and media company that develops social media, streaming and financial-services products. Its primary platform is Truth Social, a social networking service designed to support user-generated content, discussion and content sharing.

The company also operates Truth+, a streaming platform offering video content, including news, entertainment and other programming. In addition, TMTG has introduced Truth.Fi, a financial-services and fintech initiative intended to provide products such as investment accounts and exchange-traded funds through third-party partners.

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