BuzzFeed (NASDAQ:BZFD) Stock Price Down 3.2% – Here’s What Happened

Shares of BuzzFeed, Inc. (NASDAQ:BZFD) fell 3.2% during trading on Thursday . The stock traded as low as $0.6855 and last traded at $0.7066. 24,209 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 194,046 shares. The stock had previously closed at $0.7302.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of BuzzFeed in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, BuzzFeed has a consensus rating of “Reduce” and a consensus target price of $1.00.

BuzzFeed Stock Performance

The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The company has a 50 day simple moving average of $0.71 and a 200-day simple moving average of $0.98. The stock has a market capitalization of $26.60 million, a price-to-earnings ratio of -0.46 and a beta of 3.43.

BuzzFeed (NASDAQ:BZFD) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.75). BuzzFeed had a negative net margin of 31.16% and a negative return on equity of 75.23%. The business had revenue of $56.53 million during the quarter, compared to analyst estimates of $58.38 million.

Hedge Funds Weigh In On BuzzFeed

Institutional investors have recently added to or reduced their stakes in the business. Blair William & Co. IL acquired a new position in BuzzFeed in the third quarter valued at approximately $29,000. 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 stake 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 buying an additional 13,312 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in BuzzFeed by 259.0% in the third quarter. Squarepoint Ops LLC now owns 42,698 shares of the company’s stock valued at $73,000 after buying an additional 30,803 shares during the period. 37.64% of the stock is owned by institutional investors and hedge funds.

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.