BuzzFeed (NASDAQ:BZFD) Stock Price Down 2.1% – Here’s Why

BuzzFeed, Inc. (NASDAQ:BZFD)’s stock price dropped 2.1% during mid-day trading on Tuesday . The stock traded as low as $1.37 and last traded at $1.38. Approximately 219,979 shares were traded during trading, a decline of 75% from the average session volume of 868,065 shares. The stock had previously closed at $1.41.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings raised BuzzFeed from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. Wall Street Zen downgraded BuzzFeed to a “strong sell” rating in a research note on Saturday, May 30th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, BuzzFeed currently has an average rating of “Reduce” and an average target price of $1.00.

BuzzFeed Stock Performance

The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $51.94 million, a P/E ratio of -0.86 and a beta of 3.76. The business’s fifty day simple moving average is $1.45 and its 200-day simple moving average is $1.03.

BuzzFeed (NASDAQ:BZFD) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.13). BuzzFeed had a negative return on equity of 97.22% and a negative net margin of 33.26%.The company had revenue of $31.57 million during the quarter, compared to analysts’ expectations of $35.08 million.

Insider Activity

In other news, Director Terence Hill purchased 20,833 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was bought at an average cost of $1.44 per share, with a total value of $29,999.52. Following the completion of the purchase, the director owned 20,833 shares in the company, valued at approximately $29,999.52. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eric Gould purchased 33,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were purchased at an average cost of $1.44 per share, with a total value of $47,520.00. Following the completion of the purchase, the director owned 33,000 shares of the company’s stock, valued at $47,520. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 88,194 shares of company stock worth $126,999 over the last ninety days. Insiders own 15.60% of the company’s stock.

Institutional Trading of BuzzFeed

A number of large investors have recently added to or reduced their stakes in BZFD. Renaissance Technologies LLC boosted its position in shares of BuzzFeed by 2.6% during the 1st quarter. Renaissance Technologies LLC now owns 344,354 shares of the company’s stock valued at $210,000 after acquiring an additional 8,700 shares during the last quarter. Panagora Asset Management Inc. increased its position in BuzzFeed by 60.8% in the fourth 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 increased its position in BuzzFeed by 18.9% in the fourth quarter. State Street Corp now owns 96,328 shares of the company’s stock worth $90,000 after purchasing an additional 15,300 shares during the last quarter. Shay Capital LLC raised its stake in BuzzFeed by 115.1% during the third 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 in the last quarter. Finally, Squarepoint Ops LLC raised its stake in BuzzFeed by 259.0% during the third quarter. Squarepoint Ops LLC now owns 42,698 shares of the company’s stock valued at $73,000 after purchasing an additional 30,803 shares in the last quarter. Institutional investors own 37.64% of the company’s stock.

About BuzzFeed

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.