BuzzFeed, Inc. (NASDAQ:BZFD) Sees Significant Increase in Short Interest

BuzzFeed, Inc. (NASDAQ:BZFD) saw a large growth in short interest in May. As of May 15th, there was short interest totaling 3,795,814 shares, a growth of 91.2% from the April 30th total of 1,985,453 shares. Currently, 12.5% of the shares of the company are short sold. Based on an average trading volume of 15,173,865 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of BuzzFeed by 8.8% during the 3rd quarter. Vanguard Group Inc. now owns 976,888 shares of the company’s stock valued at $1,661,000 after acquiring an additional 79,263 shares during the last quarter. Renaissance Technologies LLC lifted its position in BuzzFeed by 2.6% in the first quarter. Renaissance Technologies LLC now owns 344,354 shares of the company’s stock worth $210,000 after buying an additional 8,700 shares during the last quarter. Geode Capital Management LLC lifted its position in BuzzFeed by 35.8% in the second quarter. Geode Capital Management LLC now owns 253,768 shares of the company’s stock worth $508,000 after buying an additional 66,895 shares during the last quarter. Shay Capital LLC lifted its position in BuzzFeed by 115.1% in the third quarter. Shay Capital LLC now owns 179,207 shares of the company’s stock worth $305,000 after buying an additional 95,879 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its position in BuzzFeed by 60.8% in the fourth quarter. Panagora Asset Management Inc. now owns 107,460 shares of the company’s stock worth $100,000 after buying an additional 40,617 shares during the last quarter. 37.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of BuzzFeed from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Wall Street Zen lowered shares of BuzzFeed to a “strong sell” rating in a report on Saturday. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, BuzzFeed currently has an average rating of “Reduce” and an average target price of $1.00.

BuzzFeed Stock Up 1.8%

NASDAQ BZFD opened at $1.66 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $62.48 million, a P/E ratio of -1.04 and a beta of 3.74. BuzzFeed has a one year low of $0.54 and a one year high of $2.68. The stock has a 50 day moving average price of $0.97 and a 200-day moving average price of $0.92.

BuzzFeed (NASDAQ:BZFD) last posted its earnings results on Monday, May 11th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.13). The firm had revenue of $31.57 million for the quarter, compared to the consensus estimate of $35.08 million. BuzzFeed had a negative net margin of 33.26% and a negative return on equity of 97.22%.

BuzzFeed Company Profile

BuzzFeed, Inc operates as a digital media and technology company specializing in news, entertainment, and social content. The company produces articles, videos and quizzes that target diverse audiences across web, mobile and social platforms. In addition to editorial content, BuzzFeed offers a suite of advertising solutions, including native advertising, branded content and programmatic display, designed to blend seamlessly with its editorial offerings and engage consumers at scale.

Founded in 2006 by Jonah Peretti and John S.