Bank of New York Mellon Corp Increases Holdings in Trump Media & Technology Group Corp. (NASDAQ:DJT)

Key Points

• Bank of New York Mellon Corp increased its stake in Trump Media & Technology Group by 19.2%, owning 231,726 shares valued at approximately $4.53 million.
• Trump Media's CFO sold 45,005 shares for over $1.22 million, signaling a 20.4% decrease in their position.
• Wall Street Zen downgraded Trump Media from a "hold" rating to a "sell" rating as of June 6th.

Bank of New York Mellon Corp raised its position in shares of Trump Media & Technology Group Corp. (NASDAQ:DJT - Free Report) by 19.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 231,726 shares of the company's stock after purchasing an additional 37,352 shares during the quarter. Bank of New York Mellon Corp owned 0.11% of Trump Media & Technology Group worth $4,528,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. GeoWealth Management LLC lifted its holdings in shares of Trump Media & Technology Group by 41,550.0% in the 4th quarter. GeoWealth Management LLC now owns 833 shares of the company's stock valued at $28,000 after buying an additional 831 shares during the period. Glass Jacobson Investment Advisors llc raised its holdings in Trump Media & Technology Group by 350.5% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 901 shares of the company's stock worth $31,000 after purchasing an additional 701 shares during the period. Russell Investments Group Ltd. boosted its position in Trump Media & Technology Group by 85.1% during the fourth quarter. Russell Investments Group Ltd. now owns 1,220 shares of the company's stock worth $42,000 after purchasing an additional 561 shares in the last quarter. Golden State Wealth Management LLC boosted 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 in the last quarter. Finally, Parallel Advisors LLC boosted its position in Trump Media & Technology Group by 93.8% during the first quarter. Parallel Advisors LLC now owns 2,391 shares of the company's stock worth $47,000 after purchasing an additional 1,157 shares in the last quarter. Institutional investors and hedge funds own 4.29% of the company's stock.

Insiders Place Their Bets

In other Trump Media & Technology Group news, Director Eric Swider sold 8,500 shares of the firm's stock in a transaction 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 sale, the director owned 17,489 shares of the company's stock, valued at $374,439.49. This trade represents a 32.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vladimir Novachki sold 17,823 shares of Trump Media & Technology Group stock in a transaction 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 directly owned 511,940 shares of the company's stock, valued at $13,545,932.40. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,806 shares of company stock valued at $5,062,725. 53.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

DJT stock traded down $0.33 during mid-day trading on Tuesday, reaching $18.46. 1,789,206 shares of the company's stock were exchanged, compared to its average volume of 7,677,749. The company has a market cap of $4.07 billion, a price-to-earnings ratio of -36.20 and a beta of 4.71. The stock's 50 day moving average is $19.93 and its 200 day moving average is $23.60. 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 - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported ($0.14) earnings per share (EPS) for the quarter. The business had revenue of $821.20 million for the quarter. Trump Media & Technology Group had a negative return on equity of 14.17% and a negative net margin of 2,860.82%.

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 repurchase up to 10.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

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.