BuzzFeed (NASDAQ:BZFD) Issues Earnings Results, Misses Estimates By $0.05 EPS

Key Points

• BuzzFeed reported an earnings per share of ($0.28), falling short of the estimated ($0.23) by ($0.05).
• The company achieved $46.39 million in revenue for the quarter, surpassing the consensus estimate of $39.43 million.
• Major shareholder John S. Johnson III sold 50,000 shares at an average price of $2.45, marking a 4.58% decrease in his position.

BuzzFeed (NASDAQ:BZFD - Get Free Report) issued its earnings results on Thursday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.05), Zacks reports. The company had revenue of $46.39 million for the quarter, compared to analyst estimates of $39.43 million. BuzzFeed had a negative return on equity of 28.11% and a net margin of 4.75%. BuzzFeed updated its FY 2025 guidance to EPS.

BuzzFeed Price Performance

Shares of BuzzFeed stock traded down $0.05 on Thursday, hitting $2.03. 248,359 shares of the company were exchanged, compared to its average volume of 385,010. The stock has a market capitalization of $78.22 million, a price-to-earnings ratio of 8.12 and a beta of 3.46. The company has a 50-day moving average price of $2.15 and a 200 day moving average price of $2.10. BuzzFeed has a 1-year low of $1.61 and a 1-year high of $5.68. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.46.

Analyst Ratings Changes

Separately, Craig Hallum upgraded BuzzFeed to a "strong-buy" rating in a report on Tuesday, June 10th.

Insider Activity at BuzzFeed

In other news, major shareholder John S. Johnson III sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $2.45, for a total transaction of $122,500.00. Following the transaction, the insider directly owned 1,041,195 shares in the company, valued at $2,550,927.75. The trade was a 4.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Janet L. Rolle sold 24,474 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $2.11, for a total value of $51,640.14. Following the transaction, the director owned 122,223 shares in the company, valued at approximately $257,890.53. This represents a 16.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 19.21% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in BuzzFeed in the second quarter valued at approximately $33,000. XTX Topco Ltd acquired a new position in BuzzFeed in the second quarter valued at approximately $37,000. Bank of America Corp DE lifted its holdings in BuzzFeed by 1,615.5% in the fourth quarter. Bank of America Corp DE now owns 14,136 shares of the company's stock valued at $38,000 after acquiring an additional 13,312 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in BuzzFeed by 35.8% in the second quarter. Geode Capital Management LLC now owns 253,768 shares of the company's stock valued at $508,000 after acquiring an additional 66,895 shares during the last quarter. 37.64% of the stock is currently owned by institutional investors and hedge funds.

About BuzzFeed

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.