Chris Malone Acquires 17,361 Shares of BuzzFeed (NASDAQ:BZFD) Stock

BuzzFeed, Inc. (NASDAQ:BZFD) Director Chris Malone acquired 17,361 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was purchased at an average cost of $1.44 per share, for a total transaction of $24,999.84. Following the completion of the acquisition, the director directly owned 17,361 shares of the company’s stock, valued at approximately $24,999.84. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

BuzzFeed Trading Up 7.7%

BuzzFeed stock opened at $1.53 on Wednesday. The stock has a 50-day moving average price of $1.23 and a 200 day moving average price of $0.98. The company has a market capitalization of $57.59 million, a price-to-earnings ratio of -0.96 and a beta of 3.75. BuzzFeed, Inc. has a 52 week low of $0.54 and a 52 week high of $2.68. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.77.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. boosted its stake in shares of BuzzFeed by 60.8% during the 4th quarter. Panagora Asset Management Inc. now owns 107,460 shares of the company’s stock worth $100,000 after acquiring an additional 40,617 shares in the last quarter. State Street Corp increased its stake in shares of BuzzFeed by 18.9% in the 4th quarter. State Street Corp now owns 96,328 shares of the company’s stock valued at $90,000 after purchasing an additional 15,300 shares in the last quarter. Shay Capital LLC increased its stake in shares of BuzzFeed by 115.1% in the 3rd quarter. Shay Capital LLC now owns 179,207 shares of the company’s stock valued at $305,000 after purchasing an additional 95,879 shares in the last quarter. Vanguard Group Inc. raised its holdings in BuzzFeed by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 976,888 shares of the company’s stock worth $1,661,000 after purchasing an additional 79,263 shares during the period. Finally, Geode Capital Management LLC boosted its position in BuzzFeed by 35.8% during the second quarter. Geode Capital Management LLC now owns 253,768 shares of the company’s stock worth $508,000 after purchasing an additional 66,895 shares in the last quarter. Hedge funds and other institutional investors own 37.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on BZFD. 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 cut BuzzFeed to a “strong sell” rating in a report on Saturday, May 30th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $1.00.

About BuzzFeed

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.