BuzzFeed (NASDAQ:BZFD) Rating Lowered to Sell at Wall Street Zen

BuzzFeed (NASDAQ:BZFD) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Separately, Craig Hallum upgraded BuzzFeed to a “strong-buy” rating in a research note on Tuesday, June 10th.

BuzzFeed Trading Down 3.0%

Shares of BZFD stock opened at $1.97 on Friday. The stock has a market cap of $72.97 million, a price-to-earnings ratio of 7.88 and a beta of 3.46. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.46. BuzzFeed has a fifty-two week low of $1.61 and a fifty-two week high of $5.68. The firm’s 50 day moving average price is $2.15 and its two-hundred day moving average price is $2.10.

BuzzFeed (NASDAQ:BZFD) last posted its earnings results on Thursday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.05). The business had revenue of $46.39 million for the quarter, compared to analyst estimates of $39.43 million. BuzzFeed had a net margin of 4.75% and a negative return on equity of 28.11%.

Insider Activity at BuzzFeed

In other news, major shareholder John S. Johnson III sold 50,000 shares of the business’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $2.45, for a total transaction of $122,500.00. Following the transaction, the insider directly owned 1,041,195 shares of the company’s stock, valued at approximately $2,550,927.75. The trade was a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Janet L. Rolle sold 24,474 shares of the business’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $2.11, for a total transaction of $51,640.14. Following the completion of the transaction, the director owned 122,223 shares in the company, valued at $257,890.53. This represents a 16.68% decrease in their position. The disclosure for this sale can be found here. Insiders own 19.21% of the company’s stock.

Hedge Funds Weigh In On BuzzFeed

A number of institutional investors have recently added to or reduced their stakes in BZFD. Raymond James Financial Inc. acquired a new position in shares of BuzzFeed in the second quarter worth about $33,000. Panagora Asset Management Inc. acquired a new position in shares of BuzzFeed in the second quarter worth about $77,000. XTX Topco Ltd acquired a new position in shares of BuzzFeed in the 2nd quarter valued at approximately $37,000. Geode Capital Management LLC raised its position in shares of BuzzFeed by 35.8% in the 2nd quarter. Geode Capital Management LLC now owns 253,768 shares of the company’s stock valued at $508,000 after purchasing an additional 66,895 shares in the last quarter. Finally, R Squared Ltd raised its position in shares of BuzzFeed by 222.2% in the 1st quarter. R Squared Ltd now owns 15,080 shares of the company’s stock valued at $32,000 after purchasing an additional 10,400 shares in the last quarter. Institutional investors and hedge funds own 37.64% of the company’s stock.

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.