BuzzFeed (NASDAQ:BZFD) Upgraded by Wall Street Zen to Hold Rating

Key Points

• BuzzFeed's stock rating has been upgraded from a "sell" to a "hold" by Wall Street Zen, while Craig Hallum has assigned a "strong-buy" rating, reflecting increased analyst confidence in the stock.
• The company's shares opened at $1.86, with a market capitalization of $68.89 million, and a 1-year trading range between $1.61 and $5.68.
• Insider selling activity has been notable, with one director selling nearly 68,000 shares, which indicates a 41.81% decrease in their position.

Wall Street Zen upgraded shares of BuzzFeed (NASDAQ:BZFD - Free Report) from a sell rating to a hold rating in a research report released on Friday morning.

Separately, Craig Hallum raised BuzzFeed to a "strong-buy" rating in a research report on Tuesday, June 10th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Strong Buy".

BuzzFeed Stock Up 9.5%

Shares of BZFD traded up $0.18 during mid-day trading on Friday, reaching $2.07. The company's stock had a trading volume of 377,841 shares, compared to its average volume of 180,058. The business has a fifty day moving average of $2.09 and a 200 day moving average of $2.04. The company has a market cap of $76.67 million, a price-to-earnings ratio of 8.28 and a beta of 3.45. 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.

BuzzFeed (NASDAQ:BZFD - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.05). BuzzFeed had a negative return on equity of 28.11% and a net margin of 4.75%.The firm had revenue of $46.39 million for the quarter, compared to analysts' expectations of $39.43 million. BuzzFeed has set its FY 2025 guidance at EPS.

Insider Transactions at BuzzFeed

In other news, Director Janet L. Rolle sold 24,474 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $2.11, for a total transaction of $51,640.14. Following the completion of the transaction, the director directly owned 122,223 shares in the company, valued at $257,890.53. This represents a 16.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Angela Acharia sold 67,985 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $1.88, for a total transaction of $127,811.80. Following the completion of the sale, the director owned 94,633 shares of the company's stock, valued at $177,910.04. This trade represents a 41.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,844 shares of company stock worth $353,043 in the last three months. Insiders own 19.21% of the company's stock.

Institutional Investors Weigh In On BuzzFeed

Several hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC raised its holdings in BuzzFeed by 1,461.0% in the 4th quarter. Cubist Systematic Strategies LLC now owns 251,973 shares of the company's stock valued at $673,000 after acquiring an additional 235,831 shares during the period. Two Sigma Investments LP bought a new position in shares of BuzzFeed during the fourth quarter worth approximately $391,000. Dimensional Fund Advisors LP increased its holdings in shares of BuzzFeed by 1,006.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 210,909 shares of the company's stock worth $563,000 after purchasing an additional 191,841 shares during the period. Millennium Management LLC bought a new position in shares of BuzzFeed during the fourth quarter worth approximately $289,000. Finally, Squarepoint Ops LLC bought a new position in shares of BuzzFeed during the fourth quarter worth approximately $198,000. 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.