Investors Purchase High Volume of BuzzFeed Call Options (NASDAQ:BZFD)

BuzzFeed, Inc. (NASDAQ:BZFD) was the recipient of some unusual options trading on Friday. Stock traders acquired 2,640 call options on the company. This is an increase of approximately 575% compared to the average daily volume of 391 call options.

Analysts Set New Price Targets

BZFD has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BuzzFeed in a research note on Monday. Wall Street Zen cut BuzzFeed from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Finally, Craig Hallum downgraded BuzzFeed from a “buy” rating to a “hold” rating and set a $1.00 target price for the company. in a report on Friday, November 21st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, BuzzFeed presently has a consensus rating of “Reduce” and an average price target of $1.00.

BuzzFeed Stock Down 8.4%

NASDAQ:BZFD opened at $1.09 on Friday. The firm’s 50-day moving average price is $1.31 and its 200-day moving average price is $1.79. The company has a market capitalization of $40.56 million, a PE ratio of -109,000.00 and a beta of 3.43. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.89. BuzzFeed has a 1-year low of $0.84 and a 1-year high of $3.60.

BuzzFeed (NASDAQ:BZFD) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.14). The business had revenue of $46.32 million for the quarter, compared to analysts’ expectations of $54.65 million. BuzzFeed had a net margin of 0.06% and a negative return on equity of 38.20%.

Institutional Trading of BuzzFeed

A number of hedge funds have recently made changes to their positions in the stock. 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. Raymond James Financial Inc. purchased a new position in BuzzFeed in the 2nd quarter worth approximately $33,000. Blair William & Co. IL bought a new position in shares of BuzzFeed during the third quarter worth $29,000. XTX Topco Ltd purchased a new position in shares of BuzzFeed during the second quarter valued at about $37,000. Finally, Panagora Asset Management Inc. purchased a new position in BuzzFeed during the 2nd quarter valued at approximately $77,000. 37.64% of the stock is owned by institutional investors.

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.