BuzzFeed (NASDAQ:BZFD) Shares Down 0.9% – Here’s Why

BuzzFeed, Inc. (NASDAQ:BZFD)’s share price dropped 0.9% during mid-day trading on Tuesday . The stock traded as low as $1.08 and last traded at $1.08. Approximately 169,901 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 423,669 shares. The stock had previously closed at $1.09.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of BuzzFeed in a report on Monday, August 17th. Wall Street Zen raised shares of BuzzFeed from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, BuzzFeed currently has an average rating of “Reduce” and an average target price of $1.00.

BuzzFeed Stock Performance

The company has a market capitalization of $88.33 million, a price-to-earnings ratio of -0.69 and a beta of 3.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.51. The stock’s fifty day simple moving average is $1.22 and its 200-day simple moving average is $1.10.

BuzzFeed (NASDAQ:BZFD) last announced its earnings results on Tuesday, August 4th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.08). BuzzFeed had a negative net margin of 35.83% and a negative return on equity of 113.86%. The firm had revenue of $36.29 million during the quarter, compared to analyst estimates of $43.11 million.

Insiders Place Their Bets

In related news, Director Eric Gould purchased 33,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were acquired at an average cost of $1.44 per share, for a total transaction of $47,520.00. Following the transaction, the director owned 33,000 shares of the company’s stock, valued at $47,520. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Terence Hill purchased 20,833 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were acquired at an average cost of $1.44 per share, for a total transaction of $29,999.52. Following the acquisition, the director owned 20,833 shares of the company’s stock, valued at approximately $29,999.52. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 88,194 shares of company stock worth $126,999 over the last three months. 15.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BuzzFeed

A number of hedge funds and other institutional investors have recently made changes to their positions in BZFD. Panagora Asset Management Inc. lifted its holdings in BuzzFeed by 60.8% in the 4th quarter. Panagora Asset Management Inc. now owns 107,460 shares of the company’s stock worth $100,000 after purchasing an additional 40,617 shares during the last quarter. State Street Corp grew its stake in shares of BuzzFeed by 18.9% in the 4th quarter. State Street Corp now owns 96,328 shares of the company’s stock valued at $90,000 after purchasing an additional 15,300 shares during the period. Shay Capital LLC lifted its position in shares of BuzzFeed by 115.1% during the 3rd quarter. Shay Capital LLC now owns 179,207 shares of the company’s stock worth $305,000 after buying an additional 95,879 shares during the period. Squarepoint Ops LLC grew its position in BuzzFeed by 259.0% in the third quarter. Squarepoint Ops LLC now owns 42,698 shares of the company’s stock valued at $73,000 after acquiring an additional 30,803 shares during the period. Finally, Vanguard Group Inc. raised its stake in BuzzFeed by 8.8% during the third quarter. Vanguard Group Inc. now owns 976,888 shares of the company’s stock worth $1,661,000 after acquiring an additional 79,263 shares in the last quarter. 37.64% of the stock is owned by hedge funds and other institutional investors.

BuzzFeed Company Profile

BuzzFeed, Inc operates as a digital media and technology company specializing in news, entertainment, and social content. The company produces articles, videos and quizzes that target diverse audiences across web, mobile and social platforms. In addition to editorial content, BuzzFeed offers a suite of advertising solutions, including native advertising, branded content and programmatic display, designed to blend seamlessly with its editorial offerings and engage consumers at scale.

Founded in 2006 by Jonah Peretti and John S.