BuzzFeed, Inc. (NASDAQ:BZFD) Sees Significant Drop in Short Interest

BuzzFeed, Inc. (NASDAQ:BZFD) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 1,130,000 shares, a decline of 16.3% from the March 15th total of 1,350,000 shares. Approximately 5.9% of the company’s stock are short sold. Based on an average daily trading volume, of 441,400 shares, the short-interest ratio is currently 2.6 days.

Insider Buying and Selling

In other BuzzFeed news, major shareholder Patrick J. Kerins sold 61,448 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $2.01, for a total transaction of $123,510.48. Following the transaction, the insider now owns 3,674,745 shares of the company’s stock, valued at $7,386,237.45. This trade represents a 1.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Enterprise Associates 13 L. New sold 13,629 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $1.95, for a total value of $26,576.55. Following the transaction, the insider now directly owns 3,764,465 shares of the company’s stock, valued at $7,340,706.75. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 87,642 shares of company stock valued at $176,430 in the last quarter. Company insiders own 20.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BZFD. Squarepoint Ops LLC acquired a new stake in shares of BuzzFeed in the fourth quarter valued at about $198,000. Two Sigma Investments LP bought a new position in BuzzFeed in the 4th quarter worth approximately $391,000. Shay Capital LLC lifted its holdings in shares of BuzzFeed by 61.7% during the fourth quarter. Shay Capital LLC now owns 70,715 shares of the company’s stock worth $189,000 after buying an additional 26,981 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of BuzzFeed in the fourth quarter valued at approximately $211,000. Finally, Millennium Management LLC acquired a new stake in shares of BuzzFeed in the fourth quarter worth $289,000. Institutional investors own 37.64% of the company’s stock.

BuzzFeed Stock Performance

Shares of BuzzFeed stock traded up $0.06 during trading on Tuesday, hitting $1.69. 41,173 shares of the stock traded hands, compared to its average volume of 964,919. The stock has a market cap of $65.11 million, a P/E ratio of -1.16 and a beta of 3.58. The company has a fifty day moving average price of $2.05 and a two-hundred day moving average price of $2.67. BuzzFeed has a twelve month low of $1.26 and a twelve month high of $5.68.

BuzzFeed (NASDAQ:BZFD) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.10) earnings per share (EPS) for the quarter. The company had revenue of $56.20 million for the quarter. BuzzFeed had a negative return on equity of 33.17% and a negative net margin of 22.51%.

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.