BuzzFeed, Inc. (NASDAQ:BZFD) Short Interest Down 16.3% in March

BuzzFeed, Inc. (NASDAQ:BZFD - Get Free Report) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 1,130,000 shares, a drop of 16.3% from the March 15th total of 1,350,000 shares. Approximately 5.9% of the shares of the company are sold short. Based on an average daily volume of 441,400 shares, the days-to-cover ratio is presently 2.6 days.

Insider Activity

In other BuzzFeed news, major shareholder Patrick J. Kerins sold 61,448 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $2.01, for a total value of $123,510.48. Following the sale, the insider now owns 3,674,745 shares of the company's stock, valued at $7,386,237.45. This trade represents a 1.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Enterprise Associates 13 L. New sold 13,629 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $1.95, for a total value of $26,576.55. Following the transaction, the insider now owns 3,764,465 shares of the company's stock, valued at approximately $7,340,706.75. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 87,642 shares of company stock valued at $176,430 over the last 90 days. 20.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BuzzFeed

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in BuzzFeed by 18.7% in the third quarter. Geode Capital Management LLC now owns 187,598 shares of the company's stock valued at $500,000 after acquiring an additional 29,543 shares during the period. Virtu Financial LLC acquired a new position in shares of BuzzFeed in the 4th quarter worth approximately $83,000. Renaissance Technologies LLC raised its holdings in shares of BuzzFeed by 359.5% in the 4th quarter. Renaissance Technologies LLC now owns 792,318 shares of the company's stock worth $2,115,000 after buying an additional 619,892 shares in the last quarter. XTX Topco Ltd acquired a new stake in BuzzFeed in the 4th quarter valued at $114,000. Finally, Marshall Wace LLP acquired a new stake in BuzzFeed in the 4th quarter valued at $597,000. Institutional investors and hedge funds own 37.64% of the company's stock.

BuzzFeed Price Performance

Shares of NASDAQ BZFD traded down $0.01 during mid-day trading on Friday, hitting $1.82. The company had a trading volume of 65,136 shares, compared to its average volume of 965,953. BuzzFeed has a 12 month low of $1.26 and a 12 month high of $5.68. The firm has a market cap of $70.12 million, a P/E ratio of -1.26 and a beta of 3.58. The business's 50-day simple moving average is $2.01 and its 200-day simple moving average is $2.65.

BuzzFeed (NASDAQ:BZFD - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.10) earnings per share for the quarter. The firm had revenue of $56.20 million for the quarter. BuzzFeed had a negative return on equity of 33.17% and a negative net margin of 22.51%.

About BuzzFeed

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.