Stock Traders Buy Large Volume of BuzzFeed Call Options (NASDAQ:BZFD)

BuzzFeed, Inc. (NASDAQ:BZFD) was the recipient of unusually large options trading activity on Friday. Traders purchased 2,640 call options on the stock. This is an increase of 575% compared to the typical daily volume of 391 call options.

Hedge Funds Weigh In On BuzzFeed

Several hedge funds have recently bought and sold shares of BZFD. Vanguard Group Inc. increased its stake in BuzzFeed by 8.8% in the third quarter. Vanguard Group Inc. now owns 976,888 shares of the company’s stock valued at $1,661,000 after acquiring an additional 79,263 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of BuzzFeed by 35.8% in the 2nd quarter. Geode Capital Management LLC now owns 253,768 shares of the company’s stock worth $508,000 after purchasing an additional 66,895 shares in the last quarter. Shay Capital LLC increased 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 valued at $305,000 after purchasing an additional 95,879 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of BuzzFeed by 259.0% during the 3rd quarter. Squarepoint Ops LLC now owns 42,698 shares of the company’s stock valued at $73,000 after buying an additional 30,803 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in BuzzFeed by 1,615.5% in the 4th quarter. Bank of America Corp DE now owns 14,136 shares of the company’s stock worth $38,000 after buying an additional 13,312 shares during the last quarter. Hedge funds and other institutional investors own 37.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BZFD shares. Wall Street Zen lowered shares of BuzzFeed from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of BuzzFeed in a research report on Monday, December 8th. Finally, Craig Hallum lowered BuzzFeed from a “buy” rating to a “hold” rating and set a $1.00 price objective on the stock. in a research note on Friday, November 21st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, BuzzFeed currently has an average rating of “Reduce” and a consensus price target of $1.00.

BuzzFeed Price Performance

Shares of BZFD stock opened at $1.09 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The company has a market cap of $40.56 million, a P/E ratio of -109,000.00 and a beta of 3.43. BuzzFeed has a twelve month low of $0.84 and a twelve month high of $3.60. The business has a fifty day simple moving average of $1.31 and a 200 day simple moving average of $1.79.

BuzzFeed (NASDAQ:BZFD) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.14). The company had revenue of $46.32 million for the quarter, compared to analysts’ expectations of $54.65 million. BuzzFeed had a negative return on equity of 38.20% and a net margin of 0.06%.

BuzzFeed Company Profile

BuzzFeed, Inc, a digital media company, distributes content across owned and operated, as well as third-party platforms. The company offers BuzzFeed, a go-to authority for entertainment, pop culture, and Internet with articles, lists, quizzes, videos, and original series; BuzzFeed News, a pocket friendly newsroom; Tasty, a platform for food content; HuffPost, media platform for news, politics, opinion, entertainment, features, and lifestyle content.