Geode Capital Management LLC recently announced the acquisition of new stake in BuzzFeed Inc (NASDAQ:BZFD). The institutional investor has increased its shareholding in the Communication Services company by 31.97% to 0.51 million shares with purchase of 0.12 million shares. This fresh investment now brings its stake to 0.37% valued currently at $0.15 million. In addition, Susquehanna Financial Group LLLP raised its holdings by 9334.0 to 60070.0 shares.
With over 0.47 million BuzzFeed Inc (BZFD) shares trading Friday and a closing price of $0.31 on the day, the dollar volume was approximately $0.15 million. The shares have shown a negative half year performance of -37.62% and its price on 12/22/23 lost nearly -1.70%. Currently, there are 126.39M common shares owned by the public and among those 49.98M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The top 3 mutual fund holders in BuzzFeed Inc are Vanguard Total Stock Market ETF, Vanguard Extended Market Index Fu, and Bridgeway Ultra Small Company Mar. Vanguard Total Stock Market ETF owns 2.11 million shares of the company’s stock, all valued at over $0.62 million. Bridgeway Ultra Small Company Mar now owns shares totaling to 0.24% of the shares outstanding.
Shares of BuzzFeed Inc (NASDAQ: BZFD) opened at $0.3075, down -$0.01 from a prior closing price of $0.32. However, the script later moved the day high at 0.3458, down -1.70%. The company’s stock has a 5-day price change of -6.05% and 2.60% over the past three months. BZFD shares are trading -54.77% year to date (YTD), with the 12-month market performance down to -63.28% lower. It has a 12-month low price of $0.27 and touched a high of $4.25 over the same period. BZFD has an average intraday trading volume of 250.18K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.17%, 0.13%, and -42.69% respectively.
Institutional ownership of BuzzFeed Inc (NASDAQ: BZFD) shares accounts for 8.58% of the company’s 126.39M shares outstanding. Mutual fund holders own 2.57%, while other institutional holders and individual stakeholders account for 38.62% and 0.83% respectively.
It has a market capitalization of $45.20M and a beta (3y monthly) value of 2.77. The earnings-per-share (ttm) stands at -$1.30. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.50% over the week and 7.46% over the month.
Analysts forecast that BuzzFeed Inc (BZFD) will achieve an EPS of $0.06 for the current quarter, $0 for the next quarter and -$0.2 for 2024. The lowest estimate earnings-per-share for the quarter is $0.06 while analysts give the company a high EPS estimate of $0.06. Comparatively, EPS for the current quarter was -$0.75 a year ago. Earnings per share for the fiscal year are expected to increase by 66.90%, and 58.33% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate BuzzFeed Inc (BZFD) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BZFD, a number of firms have released research notes about the stock. Cowen stated their Market Perform rating for the stock in a research note on November 22, 2022, with the firm’s price target at $3-$2.
