Trump Media & Technology Group (NASDAQ:DJT) Stock Price Down 4.5% – Here’s What Happened

Shares of Trump Media & Technology Group Corp. (NASDAQ:DJT) were down 4.5% during trading on Monday . The company traded as low as $18.58 and last traded at $18.63. Approximately 11,669,296 shares traded hands during mid-day trading, an increase of 58% from the average daily volume of 7,362,338 shares. The stock had previously closed at $19.52.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of 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

The stock has a 50-day moving average of $22.89 and a two-hundred day moving average of $27.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 47.49 and a current ratio of 45.33.

Trump Media & Technology Group (NASDAQ:DJT) last posted its earnings results on Friday, May 9th. The company reported ($0.14) EPS for the quarter. Trump Media & Technology Group had a negative return on equity of 70.26% and a negative net margin of 11,076.68%. The business had revenue of $821.20 million during the quarter.

Insiders Place Their Bets

In related news, General Counsel Scott Glabe sold 57,995 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $26.44, for a total transaction of $1,533,387.80. Following the completion of the sale, the general counsel now owns 239,503 shares in the company, valued at approximately $6,332,459.32. This represents a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric Swider sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $21.41, for a total transaction of $181,985.00. Following the sale, the director now directly owns 17,489 shares of the company’s stock, valued at approximately $374,439.49. This represents a 32.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,806 shares of company stock valued at $5,062,725. 53.00% of the stock is owned by insiders.

Institutional Trading of Trump Media & Technology Group

A number of hedge funds and other institutional investors have recently modified their holdings of DJT. New York State Common Retirement Fund grew its stake in Trump Media & Technology Group by 80.8% during the fourth quarter. New York State Common Retirement Fund now owns 38,700 shares of the company’s stock valued at $1,320,000 after acquiring an additional 17,300 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Trump Media & Technology Group by 13.6% in the fourth quarter. Allworth Financial LP now owns 3,385 shares of the company’s stock worth $114,000 after purchasing an additional 406 shares during the last quarter. Amalgamated Bank lifted its position in shares of Trump Media & Technology Group by 15.2% in the fourth quarter. Amalgamated Bank now owns 4,170 shares of the company’s stock worth $142,000 after buying an additional 550 shares in the last quarter. Rhumbline Advisers grew its holdings in Trump Media & Technology Group by 23.7% during the 4th quarter. Rhumbline Advisers now owns 76,976 shares of the company’s stock valued at $2,625,000 after buying an additional 14,752 shares in the last quarter. Finally, M&T Bank Corp purchased a new position in Trump Media & Technology Group during the 4th quarter valued at approximately $205,000. 4.29% of the stock is owned by hedge funds and other institutional investors.

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.