Wall Street Zen Upgrades BuzzFeed (NASDAQ:BZFD) to Sell

Key Points

• Wall Street Zen upgraded BuzzFeed from “strong sell” to “sell,” while the consensus rating remains “Reduce” with a $1.00 target price.
• BuzzFeed reported weaker-than-expected quarterly results, posting an adjusted loss of $0.22 per share versus the $0.14 consensus estimate and revenue of $36.29 million versus $43.11 million expected.
• The stock opened at $1.11, with a $92.5 million market capitalization; despite recent insider purchases totaling 88,194 shares, BuzzFeed continues to show significant losses, including a negative net margin of 35.83%.

BuzzFeed (NASDAQ:BZFD - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings upgraded shares of BuzzFeed from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $1.00.

BuzzFeed Stock Performance

Shares of BuzzFeed stock opened at $1.11 on Friday. The firm has a market cap of $92.50 million, a P/E ratio of -0.72 and a beta of 3.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.51. BuzzFeed has a 12 month low of $0.54 and a 12 month high of $2.21. The stock's fifty day moving average price is $1.33 and its 200-day moving average price is $1.07.

BuzzFeed (NASDAQ:BZFD - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.08). BuzzFeed had a negative net margin of 35.83% and a negative return on equity of 113.86%. The firm had revenue of $36.29 million during the quarter, compared to the consensus estimate of $43.11 million.

Insider Buying and Selling at BuzzFeed

In other BuzzFeed news, Director Eric Gould acquired 33,000 shares of the firm's stock in a transaction dated Wednesday, June 17th. The stock was purchased at an average price of $1.44 per share, for a total transaction of $47,520.00. Following the acquisition, the director owned 33,000 shares in the company, valued at approximately $47,520. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Terence Hill acquired 20,833 shares of the firm's stock in a transaction dated Wednesday, June 17th. The shares were acquired at an average price of $1.44 per share, with a total value of $29,999.52. Following the acquisition, the director owned 20,833 shares in the company, valued at approximately $29,999.52. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 88,194 shares of company stock worth $126,999 over the last ninety days. Corporate insiders own 15.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Shay Capital LLC raised its stake in BuzzFeed by 115.1% in the third quarter. Shay Capital LLC now owns 179,207 shares of the company's stock valued at $305,000 after buying an additional 95,879 shares during the last quarter. Vanguard Group Inc. boosted its holdings in BuzzFeed by 8.8% in the third quarter. Vanguard Group Inc. now owns 976,888 shares of the company's stock worth $1,661,000 after acquiring an additional 79,263 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of BuzzFeed by 35.8% during the second quarter. Geode Capital Management LLC now owns 253,768 shares of the company's stock worth $508,000 after acquiring an additional 66,895 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of BuzzFeed by 60.8% during the fourth quarter. Panagora Asset Management Inc. now owns 107,460 shares of the company's stock worth $100,000 after acquiring an additional 40,617 shares during the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of BuzzFeed by 259.0% during the third quarter. Squarepoint Ops LLC now owns 42,698 shares of the company's stock worth $73,000 after acquiring an additional 30,803 shares during the last quarter. 37.64% of the stock is currently owned by hedge funds and other institutional investors.

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.

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