BuzzFeed (NASDAQ:BZFD) Trading Down 1.2% – Here’s What Happened

BuzzFeed, Inc. (NASDAQ:BZFD) shares dropped 1.2% on Thursday . The stock traded as low as $0.5810 and last traded at $0.5948. Approximately 89,913 shares were traded during trading, a decline of 65% from the average daily volume of 258,271 shares. The stock had previously closed at $0.6020.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of BuzzFeed in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, BuzzFeed currently has a consensus rating of “Reduce” and a consensus price target of $1.00.

BuzzFeed Trading Down 1.2%

The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.56. The stock has a 50 day simple moving average of $0.77 and a 200-day simple moving average of $1.10. The firm has a market cap of $22.39 million, a P/E ratio of -0.39 and a beta of 3.43.

BuzzFeed (NASDAQ:BZFD) last posted its earnings results on Thursday, March 12th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.75). BuzzFeed had a negative net margin of 31.16% and a negative return on equity of 75.23%. The firm had revenue of $56.53 million for the quarter, compared to the consensus estimate of $58.38 million.

Hedge Funds Weigh In On BuzzFeed

Several institutional investors have recently bought and sold shares of the business. Shay Capital LLC grew its stake in shares of BuzzFeed by 115.1% in 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 in the last quarter. Vanguard Group Inc. raised its position in shares of BuzzFeed by 8.8% during the 3rd quarter. Vanguard Group Inc. now owns 976,888 shares of the company’s stock valued at $1,661,000 after buying an additional 79,263 shares in the last quarter. Geode Capital Management LLC raised its position in shares of BuzzFeed by 35.8% during the 2nd quarter. Geode Capital Management LLC now owns 253,768 shares of the company’s stock valued at $508,000 after buying an additional 66,895 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of BuzzFeed by 60.8% in the 4th quarter. Panagora Asset Management Inc. now owns 107,460 shares of the company’s stock valued at $100,000 after acquiring an additional 40,617 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of BuzzFeed by 259.0% in the 3rd 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 last quarter. Institutional investors own 37.64% of the company’s stock.

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.