Cowen Cuts BuzzFeed (NASDAQ:BZFD) Price Target to $3.00

BuzzFeed (NASDAQ:BZFDGet Rating) had its target price decreased by Cowen to $3.00 in a research report sent to investors on Monday, Stock Target Advisor reports.

Several other analysts have also recently issued reports on BZFD. Bank of America cut shares of BuzzFeed from a neutral rating to an underperform rating and lowered their price objective for the company from $4.50 to $2.00 in a research note on Thursday, August 11th. Craig Hallum dropped their price target on BuzzFeed to $6.00 and set a na rating for the company in a research note on Tuesday, May 17th. Finally, Cowen dropped their price target on BuzzFeed from $6.00 to $5.00 in a research note on Tuesday, May 17th.

BuzzFeed Stock Performance

Shares of NASDAQ BZFD opened at $1.75 on Monday. BuzzFeed has a 1 year low of $1.50 and a 1 year high of $14.77. The firm’s 50 day moving average price is $1.79 and its 200 day moving average price is $3.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.89 and a current ratio of 1.89.

BuzzFeed (NASDAQ:BZFDGet Rating) last announced its earnings results on Monday, May 16th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.05). The company had revenue of $91.56 million for the quarter. Equities analysts forecast that BuzzFeed will post -0.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Adam Rothstein purchased 35,000 shares of the company’s stock in a transaction on Wednesday, June 8th. The stock was bought at an average cost of $2.17 per share, for a total transaction of $75,950.00. Following the completion of the purchase, the director now directly owns 195,359 shares of the company’s stock, valued at approximately $423,929.03. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other BuzzFeed news, Director Gregory Coleman purchased 75,000 shares of BuzzFeed stock in a transaction that occurred on Monday, June 6th. The stock was purchased at an average price of $2.77 per share, with a total value of $207,750.00. Following the completion of the acquisition, the director now owns 565,558 shares of the company’s stock, valued at approximately $1,566,595.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Adam Rothstein purchased 35,000 shares of BuzzFeed stock in a transaction that occurred on Wednesday, June 8th. The stock was acquired at an average cost of $2.17 per share, with a total value of $75,950.00. Following the acquisition, the director now directly owns 195,359 shares of the company’s stock, valued at approximately $423,929.03. The disclosure for this purchase can be found here. 23.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nomura Holdings Inc. purchased a new position in BuzzFeed in the second quarter valued at about $81,000. State Street Corp lifted its holdings in BuzzFeed by 22.8% during the 2nd quarter. State Street Corp now owns 77,123 shares of the company’s stock worth $119,000 after buying an additional 14,300 shares during the last quarter. Millennium Management LLC lifted its holdings in BuzzFeed by 251.1% during the 2nd quarter. Millennium Management LLC now owns 172,122 shares of the company’s stock worth $265,000 after buying an additional 123,096 shares during the last quarter. Maltin Wealth Management Inc. bought a new position in BuzzFeed during the 2nd quarter worth approximately $76,000. Finally, Bank of America Corp DE lifted its holdings in BuzzFeed by 194.7% during the 1st quarter. Bank of America Corp DE now owns 25,993 shares of the company’s stock worth $137,000 after buying an additional 17,173 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

BuzzFeed Company Profile

(Get Rating)

BuzzFeed, Inc, a digital media company, provides breaking news, original reporting, entertainment, and videos across the social web to its global audience. It provides BuzzFeed, a go-to authority for entertainment, pop culture, and Internet with articles, lists, quizzes, videos, and original series; BuzzFeed News, a newsroom for young audience; Tasty, a platform for shareable food content; HuffPost, media platform for news, politics, opinion, entertainment, features, and lifestyle content; and Complex Networks that offers culture content of music, food, style, entertainment, and sports.

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