BuzzFeed (NASDAQ:BZFD) Downgraded by Zacks Investment Research

BuzzFeed (NASDAQ:BZFDGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “BuzzFeed Inc. is a tech-powered diversified media company. It produces articles, lists, quizzes, videos, and original series, lifestyle content. BuzzFeed Inc., formerly known as 890 5th Avenue Partners Inc., is based in NEW YORK. “

Several other brokerages have also issued reports on BZFD. Craig Hallum assumed coverage on shares of BuzzFeed in a research report on Wednesday, January 12th. They set a “buy” rating and a $7.50 target price for the company. Bank of America assumed coverage on shares of BuzzFeed in a research report on Friday, February 4th. They set a “neutral” rating and a $5.00 target price for the company. Finally, Cowen assumed coverage on shares of BuzzFeed in a research report on Monday, January 10th. They set an “outperform” rating and a $7.00 target price for the company.

Shares of BZFD stock traded up $0.21 during trading hours on Tuesday, reaching $5.02. The stock had a trading volume of 80,210 shares, compared to its average volume of 165,348. The stock has a fifty day simple moving average of $4.62. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.38. BuzzFeed has a 12 month low of $3.62 and a 12 month high of $14.77.

A number of institutional investors have recently made changes to their positions in BZFD. Penserra Capital Management LLC purchased a new position in shares of BuzzFeed during the fourth quarter worth approximately $33,000. Bank of America Corp DE purchased a new position in shares of BuzzFeed during the fourth quarter worth approximately $47,000. Buckingham Strategic Wealth LLC purchased a new position in shares of BuzzFeed during the fourth quarter worth approximately $68,000. State Street Corp purchased a new position in shares of BuzzFeed during the fourth quarter worth approximately $73,000. Finally, Marathon Trading Investment Management LLC purchased a new position in shares of BuzzFeed during the fourth quarter worth approximately $98,000.

BuzzFeed Company Profile (Get Rating)

BuzzFeed, Inc, a tech-powered media company, provides breaking news, original reporting, entertainment, and videos across the social Web to its global audience. It provides BuzzFeed News for young readers; Tasty, a platform for shareable content; HuffPost, a publisher of online news and media content; and Complex Networks that offers urban culture content of fashion, food, music, sneakers, and pop culture, as well as As Is for beauty, BringMe! for travel, Goodful for health and wellness, Nifty for home, and BuzzFeed Parents for family.

Further Reading

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