BuzzFeed Sees Unusually High Options Volume (NASDAQ:BZFD)

BuzzFeed, Inc. (NASDAQ:BZFD) was the recipient of some unusual options trading on Tuesday. Stock traders acquired 4,855 call options on the company. This represents an increase of 425% compared to the average daily volume of 925 call options.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BZFD shares. Weiss Ratings upgraded shares of BuzzFeed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. Wall Street Zen cut shares of BuzzFeed to a “strong sell” rating in a research note on Saturday, May 30th. One 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 price target of $1.00.

BuzzFeed Price Performance

BuzzFeed stock traded up $0.15 during midday trading on Tuesday, reaching $1.57. The company’s stock had a trading volume of 1,140,891 shares, compared to its average volume of 1,955,767. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.77. The stock has a market cap of $59.28 million, a PE ratio of -0.99 and a beta of 3.74. BuzzFeed has a 52 week low of $0.54 and a 52 week high of $2.68. The business has a 50-day moving average price of $1.22 and a 200-day moving average price of $0.97.

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 company had revenue of $31.57 million during the quarter, compared to the consensus estimate of $35.08 million. BuzzFeed had a negative return on equity of 97.22% and a negative net margin of 33.26%.

Insiders Place Their Bets

In related news, Director Eric Gould purchased 33,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was acquired at an average price of $1.44 per share, with a total value of $47,520.00. Following the completion of the purchase, the director directly owned 33,000 shares in the company, valued at $47,520. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Terence Hill acquired 20,833 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were purchased at an average cost of $1.44 per share, with a total value of $29,999.52. Following the transaction, the director directly owned 20,833 shares of the company’s stock, valued at $29,999.52. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 88,194 shares of company stock valued at $126,999. Corporate insiders own 15.60% of the company’s stock.

Institutional Trading of BuzzFeed

A number of hedge funds have recently added to or reduced their stakes in BZFD. Shay Capital LLC increased its holdings in shares of BuzzFeed by 115.1% during 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 in the last quarter. Vanguard Group Inc. boosted its holdings 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of BuzzFeed by 35.8% during the 2nd quarter. Geode Capital Management LLC now owns 253,768 shares of the company’s stock valued at $508,000 after acquiring an additional 66,895 shares in the last quarter. Panagora Asset Management Inc. grew its position in 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 during the last quarter. Finally, Squarepoint Ops LLC grew its position in BuzzFeed by 259.0% during the 3rd quarter. Squarepoint Ops LLC now owns 42,698 shares of the company’s stock worth $73,000 after acquiring an additional 30,803 shares during the last quarter. Institutional investors and hedge funds own 37.64% of the company’s stock.

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.