The Vanguard Group, Inc. 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 64.98% to 3.65 million shares with purchase of 1.44 million shares. This fresh investment now brings its stake to 2.90% valued currently at $2.52 million. In addition, G1 Execution Services LLC raised its holdings by 35608.0 to 0.36 million shares. And Geode Capital Management LLC has lifted its position by 52.14% or 0.12 million shares – to 0.36 million shares.
With over 0.1 million BuzzFeed Inc. (BZFD) shares trading Monday and a closing price of $0.94 on the day, the dollar volume was approximately $97742.14. The shares have shown a negative half year performance of -48.35% and its price on 01/23/23 lost nearly -0.48%. Currently, there are 138.94M common shares owned by the public and among those 68.98M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for BZFD have a consensus price objective of $2.17. The analysts have set the share’s price value over the next 12 months at a high of $2.50 and a low of $2.00. The average price target is 56.68% above its recent price level and an upside to the estimated low will see the stock gain 53.0% over that period. But an upside of 62.4% will see the stock hit the forecast high price target while median target price for the stock is $2.00.
Insiders at the company have transacted a total of 66 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 57 of these insider trades were purchases, accounting for 1,298,639 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 321,941 shares.
The top 3 mutual fund holders in BuzzFeed Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 2.11 million shares of the company’s stock, all valued at over $1.45 million. Vanguard Extended Market Index Fu bought 731.0 shares to see its total holdings expand to 0.35 million shares valued at over $0.24 million and representing 0.28% of the shares outstanding. Fidelity Extended Market Index Fu now owns shares totaling to 0.14% of the shares outstanding.
Shares of BuzzFeed Inc. (NASDAQ: BZFD) opened at $0.91, down -$0.03 from a prior closing price of $0.94. However, the script later moved the day high at 0.9697, down -0.48%. The company’s stock has a 5-day price change of -14.55% and -55.02% over the past three months. BZFD shares are trading 36.31% year to date (YTD), with the 12-month market performance down to -76.73% lower. It has a 12-month low price of $0.64 and touched a high of $5.71 over the same period. BZFD has an average intraday trading volume of 134.76K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.85%, -14.69%, and -56.90% respectively.
Institutional ownership of BuzzFeed Inc. (NASDAQ: BZFD) shares accounts for 35.60% of the company’s 138.94M shares outstanding. Mutual fund holders own 2.35%, while other institutional holders and individual stakeholders account for 48.16% and 2.28% respectively.
It has a market capitalization of $127.32M. The stock’s trailing 12-month PE ratio is 5.99, while the earnings-per-share (ttm) stands at $0.16. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.56% over the week and 11.36% over the month.
Analysts forecast that BuzzFeed Inc. (BZFD) will achieve an EPS of -$0.17 for the current quarter, $0.05 for the next quarter and -$0.36 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.19 while analysts give the company a high EPS estimate of -$0.15.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate BuzzFeed Inc. (BZFD) as a “Hold” at a consensus score of 3.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 1 of the 3 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. BofA Securities coverage for the BuzzFeed Inc. (BZFD) stock in a research note released on August 11, 2022 offered a Underperform rating with a price target of $2. BofA Securities was of a view on February 04, 2022 that the stock is Neutral, while Craig Hallum gave the stock Buy rating on January 12, 2022, issuing a price target of $7.50. Cowen on their part issued Outperform rating on January 10, 2022.
