BuzzFeed, Inc. (NASDAQ:BZFD) Short Interest Update

kopsource · Mar 16, 2023 05:24

BuzzFeed, Inc. (NASDAQ:BZFD – Get Rating) was the recipient of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 2,980,000 shares, a decrease of 17.9% from the February 13th total of 3,630,000 shares. Approximately 10.1% of the company's shares are sold short. Based on an average trading volume of 11,310,000 shares, the short-interest ratio is presently 0.3 days.

Analyst Ratings Changes

A number of research firms recently issued reports on BZFD. Cowen downgraded shares of BuzzFeed from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $3.00 to $2.00 in a research note on Monday, November 21st. Cowen downgraded shares of BuzzFeed from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $3.00 to $2.00 in a research note on Monday, November 21st.

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Insider Activity

In other news, major shareholder Corp Comcast sold 1,610,496 shares of the company's stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $2.38, for a total transaction of $3,832,980.48. Following the completion of the transaction, the insider now directly owns 25,153,615 shares of the company's stock, valued at $59,865,603.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 7,527,791 shares of company stock valued at $19,025,007. Insiders own 23.71% of the company's stock.

Hedge Funds Weigh In On BuzzFeed

A number of institutional investors and hedge funds have recently made changes to their positions in BZFD. Vanguard Group Inc. increased its stake in shares of BuzzFeed by 64.6% during the third quarter. Vanguard Group Inc. now owns 3,663,840 shares of the company's stock valued at $5,716,000 after purchasing an additional 1,437,733 shares in the last quarter. BlackRock Inc. bought a new position in shares of BuzzFeed during the first quarter valued at approximately $1,636,000. HRT Financial LP bought a new position in shares of BuzzFeed during the fourth quarter valued at approximately $137,000. Millennium Management LLC increased its stake in shares of BuzzFeed by 251.1% during the second quarter. Millennium Management LLC now owns 172,122 shares of the company's stock valued at $265,000 after purchasing an additional 123,096 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of BuzzFeed during the fourth quarter valued at approximately $52,000. Institutional investors own 28.68% of the company's stock.

BuzzFeed Stock Up 13.2 %

Shares of NASDAQ BZFD traded up $0.13 on Wednesday, reaching $1.08. 3,207,573 shares of the company's stock traded hands, compared to its average volume of 14,927,746. BuzzFeed has a 12 month low of $0.64 and a 12 month high of $5.71. The business's 50 day simple moving average is $1.55 and its two-hundred day simple moving average is $1.49. The company has a market cap of $145.62 million, a price-to-earnings ratio of -1.37 and a beta of 3.53. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

BuzzFeed Company Profile

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BuzzFeed, Inc, a digital media company, provides breaking news, original reporting, entertainment, and videos across the social web to its global audience. It provides BuzzFeed, a go-to authority for entertainment, pop culture, and Internet with articles, lists, quizzes, videos, and original series; BuzzFeed News, a newsroom for young audience; Tasty, a platform for shareable food content; HuffPost, media platform for news, politics, opinion, entertainment, features, and lifestyle content; and Complex Networks that offers culture content of music, food, style, entertainment, and sports.