BuzzFeed, Inc. (NASDAQ:BZFD) Sees Large Decrease in Short Interest

BuzzFeed, Inc. (NASDAQ:BZFD - Get Free Report) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 791,300 shares, a decline of 15.7% from the April 30th total of 938,400 shares. Currently, 4.1% of the company's shares are sold short. Based on an average daily trading volume, of 362,400 shares, the days-to-cover ratio is currently 2.2 days.

Insiders Place Their Bets

In other news, major shareholder Patrick J. Kerins sold 61,448 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $2.01, for a total value of $123,510.48. Following the completion of the sale, the insider now owns 3,674,745 shares in the company, valued at approximately $7,386,237.45. This trade represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Enterprise Associates 13 L. New sold 13,629 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $1.95, for a total transaction of $26,576.55. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 86,204 shares of company stock worth $173,454 over the last ninety days. 19.21% of the stock is owned by company insiders.

Institutional Trading of BuzzFeed

A number of hedge funds and other institutional investors have recently modified their holdings of the company. R Squared Ltd grew its holdings in BuzzFeed by 222.2% during the first quarter. R Squared Ltd now owns 15,080 shares of the company's stock worth $32,000 after acquiring an additional 10,400 shares during the period. Naviter Wealth LLC bought a new stake in shares of BuzzFeed in the 1st quarter worth approximately $40,000. EWA LLC acquired a new stake in BuzzFeed during the first quarter valued at approximately $36,000. Squarepoint Ops LLC bought a new stake in BuzzFeed during the fourth quarter worth approximately $198,000. Finally, Two Sigma Investments LP acquired a new position in BuzzFeed in the fourth quarter worth approximately $391,000. Institutional investors own 37.64% of the company's stock.

BuzzFeed Stock Down 0.5%

Shares of NASDAQ:BZFD traded down $0.01 during trading on Wednesday, hitting $2.13. 269,044 shares of the company traded hands, compared to its average volume of 623,621. The stock has a market capitalization of $82.06 million, a price-to-earnings ratio of -1.47 and a beta of 3.59. The business's fifty day moving average is $1.92 and its 200-day moving average is $2.53. BuzzFeed has a one year low of $1.61 and a one year high of $5.68.

BuzzFeed (NASDAQ:BZFD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.33) EPS for the quarter. BuzzFeed had a negative net margin of 22.51% and a negative return on equity of 33.17%.

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.