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

BuzzFeed, Inc. (NASDAQ:BZFD) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 1,130,000 shares, a drop of 16.3% from the March 15th total of 1,350,000 shares. Approximately 5.9% of the company’s stock are sold short. Based on an average daily trading volume, of 441,400 shares, the short-interest ratio is currently 2.6 days.

Insider Activity at BuzzFeed

In related news, major shareholder Patrick J. Kerins sold 61,448 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $2.01, for a total transaction of $123,510.48. Following the sale, the insider now directly owns 3,674,745 shares of the company’s stock, valued at approximately $7,386,237.45. This represents a 1.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Enterprise Associates 13 L. New sold 13,629 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $1.95, for a total transaction of $26,576.55. Following the completion of the transaction, the insider now owns 3,764,465 shares of the company’s stock, valued at approximately $7,340,706.75. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,642 shares of company stock valued at $176,430 in the last 90 days. Corporate insiders own 20.31% of the company’s stock.

Institutional Trading of BuzzFeed

A number of hedge funds have recently bought and sold shares of BZFD. EWA LLC purchased a new position in BuzzFeed in the first quarter worth about $36,000. Focus Partners Wealth purchased a new position in shares of BuzzFeed in the fourth quarter worth approximately $37,000. Bank of America Corp DE grew its position in BuzzFeed by 1,615.5% during 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. Oxford Asset Management LLP purchased a new stake in BuzzFeed during the fourth quarter valued at approximately $55,000. Finally, Graham Capital Management L.P. bought a new position in BuzzFeed in the fourth quarter worth approximately $75,000. Hedge funds and other institutional investors own 37.64% of the company’s stock.

BuzzFeed Stock Performance

BZFD opened at $1.72 on Wednesday. The company’s 50-day simple moving average is $2.04 and its two-hundred day simple moving average is $2.66. The stock has a market capitalization of $66.26 million, a P/E ratio of -1.19 and a beta of 3.58. BuzzFeed has a 52-week low of $1.26 and a 52-week high of $5.68.

BuzzFeed (NASDAQ:BZFD) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.10) earnings per share for the quarter. BuzzFeed had a negative net margin of 22.51% and a negative return on equity of 33.17%. The company had revenue of $56.20 million for the quarter.

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.