BuzzFeed (NASDAQ:BZFD) Stock Price Down 2.1% - Here's Why

Key Points

• BuzzFeed shares fell 2.1% on Tuesday, trading as low as $1.37 before ending around $1.38, with volume far below its average.
• Analyst sentiment remains weak: the stock carries a consensus “Reduce” rating and an average price target of $1.00 after recent downgrades and mixed rating changes.
• BuzzFeed’s latest earnings showed continued weakness, with EPS of -$0.40 versus expectations of -$0.27 and revenue of $31.57 million, below estimates; despite this, several insiders recently bought shares.

BuzzFeed, Inc. (NASDAQ:BZFD - Get Free Report) fell 2.1% during trading on Tuesday . The stock traded as low as $1.37 and last traded at $1.38. 219,979 shares traded hands during trading, a decline of 75% from the average daily volume of 868,065 shares. The stock had previously closed at $1.41.

Wall Street Analyst Weigh In

BZFD has been the topic of a number of research reports. Wall Street Zen downgraded shares of BuzzFeed to a "strong sell" rating in a report on Saturday, May 30th. Weiss Ratings upgraded shares of BuzzFeed from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $1.00.

BuzzFeed Stock Down 2.1%

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

BuzzFeed (NASDAQ:BZFD - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $35.08 million.

Insider Activity at BuzzFeed

In other news, Director Eric Gould bought 33,000 shares of the firm's stock in a transaction on Wednesday, June 17th. The shares were bought at an average price of $1.44 per share, for a total transaction of $47,520.00. Following the purchase, the director owned 33,000 shares in the company, valued at approximately $47,520. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Terence Hill purchased 20,833 shares of the stock in a transaction on Wednesday, June 17th. The shares were purchased at an average cost of $1.44 per share, for a total transaction of $29,999.52. Following the acquisition, the director directly owned 20,833 shares of the company's stock, valued at approximately $29,999.52. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 88,194 shares of company stock valued at $126,999 over the last three months. 15.60% of the stock is currently owned by insiders.

Institutional Trading of BuzzFeed

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake 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. Renaissance Technologies LLC increased its stake in BuzzFeed by 2.6% in the 1st quarter. Renaissance Technologies LLC now owns 344,354 shares of the company's stock worth $210,000 after buying an additional 8,700 shares in the last quarter. Geode Capital Management LLC increased its stake in 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 buying an additional 66,895 shares in the last quarter. Shay Capital LLC raised its holdings 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 acquiring an additional 95,879 shares during the period. Finally, Panagora Asset Management Inc. raised its holdings in BuzzFeed by 60.8% during the fourth 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 period. 37.64% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.